In comments made to MTV, director Guillermo del Toro confirms that his adaptation of the J.R.R. Tolkien's The Hobbit will consist of only two films. There had been rumors -- and April Fools' jokes -- about The Hobbit becoming a trilogy. He indicates that there had been serious discussions about a "bridge" film between the events of The Hobbit and The Lord of the Rings. But ultimately, del Toro says, "the two films were the way to go."
He also has decided on the point in the narrative where he will spit the two films, but isn't divulging that detail yet. Speculation is centering on the point where Bilbo and his dwarf companions escape the Mirkwood elves on a raft made of barrels.