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'The Hobbit 3: Battle of the Five Armies' News: Film to Be Released in December 2014

The third and last installment of "The Hobbit" films will be released in time for this year's holiday season.

Formerly titled "The Hobbit: There and Back Again," the film, now titled "The Hobbit 3: Battle of the Five Armies" is based on the book.

"'The Hobbit 3: Battle of the Five Armies' brings to an epic conclusion the adventures of Bilbo Baggins, Thorin Oakenshield, and his Company of Dwarves. Having reclaimed their homeland from the Dragon Smaug, the Company has unwittingly unleashed a deadly force into the world. Enraged, Smaug rains his fiery wrath down upon the defenseless men, women, and children of Lake-town," the synopsis reads.

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"Obsessed above all else with his reclaimed treasure, Thorin sacrifices friendship and honor to hoard it as Bilbo's frantic attempts to make him see reason drive the Hobbit towards a desperate and dangerous choice," it continued.

"As darkness converges on their escalating conflict, the races of Dwarves, Elves and men must decide—unite, or fall. Bilbo finds himself fighting for his life and the lives of his friends in the epic Battle of the Five Armies, as the future of Middle-earth hangs in the balance," the official summary states.

"The Hobbit" was originally planned to be a two-part film, until director and writer Peter Jackson confirmed plans for a third film on June 2012, which made the adaptation officially into a trilogy.

The film stars Martin Freeman as Bilbo Baggins, with Ian Holm playing the part of an older Bilbo Baggins. Reprising their roles from the "Lord of the Rings" and "The Hobbit" films are Ian McKellen as Gandalf, Elijah Wood as Frodo Baggins, Richard Armithage as Thorin, Benedict Cumberbatch as Smaug and the Necromancer/ Sauron, Orlando Bloom as Legolas, Cate Blanchett as Galadriel, Hugo Weaving as Elrond, and Evangeline Lilly as Tauriel.

"The Hobbit 3: Battle of the Five Armies" premieres on Dec. 17, 2014.

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