According to Variety, The Hobbit – part one and two – now have official titles and release dates. MGM, New Line and New Line parent Warner Bros made the announcement earlier today. Part one of the epic will be entitled The Hobbit: An Unexpected Journey and will hit the theaters on December 14, 2012 — competing against the highly anticipated Ang Lee film, The Life of Pi. The second part will be called The Hobbit: There and Back Again and will be released almost an entire year later, on December 13, 2013. Remember: Lee Pace was recently cast as the Elven King, Thranduil, in this monstrous franchise.