I do not understand anyone who sees The Hobbit 3 as a good idea, and I don’t think I want to, either. This, frankly, is not the place to get into explanations of why it’s a greedy, wrongheaded, exploitative, stupid idea — it also doesn’t help that I’m very excited for The Hobbit, too, and want to remain positive — so let’s move on. The way I see it, there’s no better way than to discuss those who’re happy about the decision: Warner Bros. and New Line.

They’re not actually over the moon quite yet, though, as there’s a good amount of financial dealmaking to strike before they start buying another yacht. One of the most important aspects of any production — i.e., the budget — is still undetermined, as Peter Jackson, Fran Walsh, and Philippa Boyens have yet to finish their script; without that, estimations are only dangerous shots in the dark. (The director himself said he’s “sure it’s been the biggest nightmare in the world for them to try to actually work it all through.” Make of that what you will.)

But, at the moment, they’re expecting to pay somewhere “between half and two-thirds” of the first two installments’ roughly $250 million budget. Then there’s the marketing to factor in, but that’s a whole different game we can’t even try and deduce this far out.

Compared to the production schedule on films one and two, this third picture will only require a few extra weeks — it’s said that “shooting of ‘essentially every page of script’ of the first two Hobbit films is completed” — and such time will be taken to, in Jackson‘s own words, “develop and expand.” “Pad and distend” doesn’t have quite the same ring to it.

Oh, and for the titles. Fusible (via /Film) noticed that the studios registered some domain names in light of this development, none of which reveal a good deal but, nevertheless, raise a lot of speculation.

Without further ado:

http://whois.domaintools.com/desolationofsmaug.com

http://whois.domaintools.com/riddlesindark.com

http://whois.domaintools.com/thedesolationofsmaug.com

http://whois.domaintools.com/thehobbitdesolationofsmaug.com

http://whois.domaintools.com/thehobbitriddlesindark.com

http://whois.domaintools.com/thehobbitthedesolationofsmaug.com

http://whois.domaintools.com/thehobbittheriddlesinthedark.com

http://whois.domaintools.com/theriddlesinthedark.com

In Tolkien‘s original book, “Riddles in the Dark” is the chapter in which Gollum quizzes Bilbo in a game for the One Ring — kind of a big deal in this franchise — though that surely couldn’t lead into or be included in the third film. “The Desolation of Smaug,” however, speaks of the manner in which The Hobbit‘s main antagonist — Smaug, a dragon who will be voiced and motion-capture performed by Benedict Cumberbatch — destroys the land around his gold-filled home. I’d put some money on that one.

Being the dumbest thing in an article about a third Hobbit is hard to pull off, but a pair of 3D glasses have taken the Shire cake. I don’t even know what to say, other than “please don’t buy this” (via ComingSoon):

The Hobbit: An Unexpected Journey opens on December 14th, The Hobbit: There and Back Again will hit theaters on December 13th, 2013, and the third film is slated to hit in the summer of 2014.

Have you made up your mind on a third Hobbit? What could the title be?