Update!

New Hobbit Theatrical Trailer Unleashed! Bilbo Baggins Hits the Road

E! News breaks down the new theatrical trailer for Peter Jackson's latest Middle-earth opus

By Josh Grossberg Sep 19, 2012 3:06 PMTags

UPDATE: The Hobbit's official website features four alternate endings allowing users to create their own version of the trailer that they can send to their friends.

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One preview to rule them all and in the darkness bind them!

In honor of Tolkien Week, which of course pays tribute to J.R.R. Tolkien, the legendary author who gave birth to the beloved fantasy novels set in Middle-earth, Warner Bros. has unveiled the latest theatrical trailer for The Hobbit: An Unexpected Journey.

And by the epic scope of Peter Jackson's big-screen adaptation, the first installment of a planned trilogy, Tolkien devotees will have plenty to celebrate along with Bilbo and Frodo Baggins' birthday on Hobbit Day this coming Saturday.

Bilbo Baggins' great adventure gets off to a rousing start as he, Gandalf the Grey and their band of 13 dwarves led by Thorin Oakenshield set out for the Lonely Mountain. On their way, the group will encounter everything from evil cave goblins to forest-dwelling giant spiders to wood-elves on their quest to recover a vast treasure guarded by the dragon Smaug.

At the start of our tale, Bilbo (Martin Freeman), like most hobbits, is more than happy to rest easy in the cozy confines of the Shire. But when Gandalf (once again played by Ian McKellen) shows up with the dwarves, the young hobbit ends up being enlisted by the itinerant wizard to serve as the group's resident "burglar"—and so begins his unexpected journey.

The leader of the dwarves, Oakenshield, is a proud, arrogant and cunning warrior who can hold his own against most anything, including trolls, goblins and wargs.

The Hobbit teaser trailer is out—here's what we saw…

Gandalf consults with Galadriel, co-ruler of Lothlorien. Cate Blanchett reprises her role as the fairest of all Elven women, and while Galadriel doesn't actually appear in the novel, Jackson brought the character back to provide some continuity between The Hobbit and The Lord of the Rings trilogies. Here she questions Gandalf's decision to bring Bilbo along, whereupon the wizard replies, "Why Bilbo Baggins? Perhaps it's because I'm afraid and he gives me courage." Later on in the trailer, Bilbo and company are joined by the Elven master Elrond, played again by Hugo Weaving.

Gollum is once again portrayed by Andy Serkis (who should've won an Oscar for playing him in LOTR), and the teaser gives us our first real glimpse of the famed Riddle Game, which enables Bilbo to take the One Ring from him. 

And in case fanboys had any doubts, rest assured there's plenty of action in The Hobbit: An Unexpected Journey as the treasure hunters meet their share of evil creatures and avoid falls into dangerous caverns and massive boulders from crumbling mountains.