"As far as I know the two films that they’re doing, one will be ‘The Hobbit’ and another will take place between the 60 years that happened between ‘The Hobbit’ and ‘The Lord of the Rings,’” Wood said. That gives a little more clarity to why two movies are planned. It had seemed strange that the rather brief Hobbit novel would possibly be made into two films and the idea of Jackson et al inventing a whole period of history for Tolkien's novels is intriguing, although it does offer potential to upset the hardcore fans.

Frodo wouldn't likely be in The Hobbit, since it's Bilbo's story, so this sequel could bring together some of the old characters we know and love. For his part, Wood says he'd love to return. “If I’m asked to go back and revisit that character and it makes sense," he says, "I would love to. I would absolutely love to".

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