The probability of it happening is certainly unclear, but New Line Cinema – operating under Warner Bros. – could possibly be looking to add another installment to The Hobbit.

The LA Times reports that the company was in talks with some of the actors and cast members for a third film in the seriesThe Hobbit series already has two films finished from acclaimed director Peter Jackson, who manned all three Lord Of The Rings films. The two upcoming films are based on one book of the same name; in contrast to the three Lord Of The Rings films, which were three separate books. According to unverified sources, Jackson feels that there is enough untouched material from the J.R.R. Tolkien library that can fill in for a third film.

Warner Bros. is apparently scrambling for a new film franchise to build from, with the Harry Potter and Batman series now completed. And while the probability of a third film happening isn’t certain, it would be a major financial boost for the company.

The Hobbit: An Unexpected Journey is scheduled for release in the U.S. December 14th, with the second installment slated for December 2013.

Watch The Hobbit: An Unexpected Journey trailer below: