I think there is enough material in the appendices, and possibly Unfinished Tales, to lay out a movie to link the Hobbit with LOTR a little more clearly. They sort of already covered how the rings were made, but more on the elves of Hollin, and the alliance between Elendil and Gil-Galad would be nice. How the rings Narya and Vilya came into Gandlaf’s and Elrond’s posession would be good. And the formation of the White Council and some stuff on Radagast the Brown would be nice.

If I read right there was a court decision that essentially will revert movie rights for Hobbit and LOTR back to the Tolkien family after this one is done. Mean time I gotta wonder why the studio can’t just negotiate with the family? Since when is Saul Zaentz the go-to-guy for all things Tolkien?

@Jacin B.: Technically, The Hobbit is a Prequel to LotR as LotR was being written prior to the Hobbit even though the Hobbit was published first.

@Cory: I figured the “sequel” would bridge the gap between the Hobbit and LotR with the material found in the Appendices of LotR which told us where the heck Gandalf ran off to and the search for Gollum etc…

Anyway, I’ve heard rumors that Del Toro wants the “sequel” to tackle the Silmarillion; which would be glorious. However, there are still some legal issues surrounding that property.