Warner Bros. has officially confirmed that the studio will not be releasing a sequel to its critically acclaimed The Hobbit trilogy, which has grossed more than $2 billion worldwide.

“The Hobbit: The Desolation of Smaug is not in the pipeline for 2019,” the studio said in a statement, adding that it will instead focus on developing a “new exciting, original, and immersive movie experience” for 2019.

“We have a great vision for this film and it will be released as planned in 2019, which is a priority.”

The studio also noted that Jackson has yet to officially sign on to direct the project, so it’s unclear whether Jackson has any interest in returning to the series for the 2019 sequel.

Jackson has also yet to confirm whether he will return for the film’s third installment, which could come as early as this fall.

The Hobbit films have become the biggest-grossing films in the history of the motion picture industry, grossing more than a billion dollars worldwide.

The first installment, released in 2004, brought a much-needed dose of epic fantasy into the mainstream and cemented Jackson as one of the biggest names in the genre.

With a sequel on the way, the question is whether Jackson is ready to move on.

As previously reported, Jackson has not been shy about publicly voicing his desire to return to the film series for his next film, which was released in 2015.

Jackson’s decision to take on the reins of the franchise in 2019 came just days after his sister, Emma Watson, announced her plans to leave Warner Bros., which will see her become a director.

While her exit is not expected to affect the studio’s plans for the franchise, the decision to step down has been widely criticized.