Peter Jackson and Newline make nice and go for billions in Hobbit box office

Peter Jackson will direct the Hobbit in two movie parts. The Hobbit movies should come out in 2010 and 2011.

Rumors are that the second film will cover the 60-70 years between the Hobbit and the beginning of the Lord of the Rings (LOTR).

The timeline of the third age between the Hobbit and LOTR

July, 2941 – Bilbo Baggins obtains the One Ring; the White Council drives Sauron out of Dol Guldur
2941 – Esgaroth is attacked by the dragon Smaug, who is consequentially killed by Bard the Bowman; Battle of Five Armies
June 22, 2942 – Bilbo Baggins returns to Bag End
2951 – Estel, later known as Aragorn, comes of age and is told about his heritage; the Corsairs of Umbar officially ally themselves with Mordor and destroy great monument commemorating Ar-Pharazôn’s victory over Sauron
2953 – Last meeting of the White Council. Fengel, 15th king of Rohan, dies. His son Thengel returns to Rohan to succeed him.
2956 – Aragorn first meets Gandalf the Grey
2957-2980 – Aragorn as Thorongil serves in the armies of King Thengel of Rohan, and Steward Ecthelion II of Gondor
September 22, 2968 – Frodo Baggins is born
2978 – Boromir is born
2980 – Arwen pledges her hand in marriage to Aragorn; Frodo Baggins loses both of his parents in a boating accident; Aragorn, in the service of the Steward of Gondor Ecthelion II leads a taskforce south and kills the Captain of the Haven, ruler of Umbar; Samwise Gamgee born;[14] Théoden, son of Thengel, becomes 17th king of Rohan after the death of his father. Théoden is the last king of the second line.
2982 – Birth of Meriadoc Brandybuck (Merry)
2983 – Birth of Faramir
2989 – Frodo Baggins comes under the guardianship of Bilbo Baggins; a company of Dwarves, led by Balin, try to recolonize Moria
2990 – Birth of Peregrin Took (Pippin)
2991 – Birth of Éomer
2994 – Balin is killed; the dwarf-colony in Moria is destroyed
2995 – Birth of Éowyn
3001 – Bilbo Baggins turns 111, passes the One Ring on to Frodo Baggins, and leaves the Shire. From now on Aragorn and Gandalf intermittently hunt Gollum

The Hobbit movie information at the internet movie database