"We wanted to have a shorter gap between the second and third films. Opening in July affords us not only the perfect summer tentpole, but fans will have less time to wait for the finale of this epic adventure," president of domestic distribution Dan Fellman said.

The development came after Peter Jackson, who directed the epic series "The Lord of the Rings," and Warner Bros. subsidiary New Line agreed in July to split the originally planned two-part series into three.

According to Warner Bros., the second installment, premiering Dec. 13, 2013, was retitled "The Hobbit: The Desolation of Smaug." The third film will carry on the title which was originally reserved for the second, "The Hobbit: There and Back Again."

"The Hobbit: An Unexpected Journey," the first in the adaptation of J.R.R. Tolkien' s 1937 children's book, opens Dec. 14.