Like most of you, we were pretty shocked when it was announced that Peter Jackson would be turning his two Hobbit movies into a trilogy. But with what Jackson achieved on his original Lord of the Rings trilogy, we had to give him the benefit of the doubt. However, now The Hollywood Reporter has posted a story that claims the third Hobbit movie is still without a final budget or script. The third movie is due in theaters in the summer of 2014. 

The studio would normally know how much a movie would cost by now, "But the final cost is not yet known because the studio is awaiting a full script for the third movie," according to the site. 

It appears as though the studio completely backs the decision to make this into a trilogy. One insider told the site that, "If anybody had been a big hindrance, it wouldn't have happened. It was such a short window of time to make this decision, if anybody had said no, it would have been two movies."

Until a script is finalized, there can be no budget for the film. And without a budget, no filming can take place. Time is definitely not on anybody's side. 

[via The Hollywood Reporter]