OK, LOTR I could understand - it's huge, split into three volumes, etc. But, the Hobbit? Fuck off - it's not that long or deep that it would take three long movies to do. 90 minutes should have covered it nicely. Really, this is just taking the piss to stretch out the lifespan of the cash-cow, isn't it?
What's next, turning The Dambusters (which PJ is/was supposedly remaking) into a six-movie epic that lasts longer than the actual war...?