Going to see it soon.
A lot of what you see in the Hobbit movies A) never happened B) is hugely exaggerated from the original story -and- C) was sourced from other Tolkien writings.
It originally is a children's story about a bunch of dwarves, a hobbit and a wizard who went to mountain to reclaim gold and treasure from a dragon. Gandalf disappears several times to tend to other business while they get captured by trolls, giant spiders, goblins and the wood elves. They end up pissing off the dragon. Then there is a huge battle at the end. And somewhere in all of that, Bilbo stumbles onto a magic ring that Gollum used while hunting for food.
That was it.
Peter Jackson's movie ending should set the stage for his next trilogy.
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