The first of the two films, which are currently being filmed back-to-back in New Zealand, "The Hobbit: An Unexpected Journey," arrives in theaters on Dec. 14, 2012. The sequel, opening Dec. 13, 2013, will be known as "The Hobbit: There and Back Again." Both will be released through Warner Bros.

The two prequels to Jackson's "Lord of the Rings" trilogy follow the adventures of Bilbo Baggins - to be played by Martin Freeman, with Ian Holm reprising his role as the elder Bilbo - in his quest to reclaim the lost Dwarf Kingdom of Erebor from the dragon Smaug.

The sprawling cast includes a number of other "Rings" veterans: Ian McKellen as Gandalf the Grey; Cate Blanchett as Galadriel; Orlando Bloom as Legolas; Christopher Lee as Saruman; Hugo Weaving as Elrond; Elijah Wood as Frodo; and Andy Serkis as Gollum.