Both parts of The Hobbit will be based on the book
by Doc on Dec.07, 2009, under Movies
Peter Jackson cleared up a question on how The Hobbit will be represented as two films – that both movies are completely based on the book and split at a middle point that he and his writing team of Fran Walsh and Philippa Boyens along with director Guillermo del Toro figured would work. This should ens speculation that the second movie might be an all-new filler story between The Hobbit and The Lord Of The Rings.