(Source: New Line Cinema)

Spoilers and details of the third installment of The Hobbit franchise, called The Battle of Five Armies, are making fans excited as the first look draws near. What should die-hard fans know about the much-anticipated follow up to The Desolation of Smaug?

After the title has been decided by Peter Jackson and the producers, a few details have surfaced regarding the story line of The Battle of Five Armies. It has been reported that the film will follow Tolkien's book, though one character who died in the book, Thorin Oakenshield, will remain alive. It is still not sure whether Oakenshield's presence in the movie will have any major effect on the plot. Thorin will be the leader of those fighting against Smaug, and he will portray such valor and skill, and his true storyline will come to life in The Battle of Five Armies.

As for the opening sequence of the film, a website reported that the dragon Smaug will terrorize Lake Town, and has been dubbed as a "killing machine." An "epic" battle will arise, with the greedy snake-like dragon leading the force of the enemy.

Another interesting happening in the movie will be the return of Sauron. The necromancer is said to battle the White Council in this third installment, though if the book is to be followed, Sauron will most likely be defeated.

It has also been revealed that The Battle of Five Armies will run shorter than the first two films.

The Battle of Five Armies is set to be released on December 17, 2014 under New Line Cinema.