Release date for third 'Hobbit' film announced

BURBANK, California — "Hobbit" fans need only wait seven months between the second and third installments of Peter Jackson's highly anticipated trilogy.

Warner Bros. Pictures and Metro-Goldwyn-Mayer Pictures announced Friday the final film in the series will be called

"The Hobbit: There and Back Again" and released worldwide on July 18, 2014. The title was taken from the second installment, which will now be called "The Hobbit: The Desolation of Smaug."

Here's how it all breaks down: "The Hobbit: An Unexpected Journey,' Dec. 14, 2012; "The Hobbit: The Desolation of Smaug." Dec. 13, 2013; and "The Hobbit: There and Back Again," July 18, 2014.

Adapted from J.R.R. Tolkien's beloved masterpiece, "The Hobbit" series will be released in High Frame Rate 3-D, other 3-D formats, IMAX and 2-D. (AP)