I'm remaining a bit skeptical, as what content int the books remains to be covered? While I greatly enjoyed the movies, especially seeing them the first time, it feels to me like it's time to move on to something else, especially if the producer has a big budget to work with, there are a lot of good fantasy books (or even games) that could make excellent movie.
It seems to me they're trying to do this:
There's still the entire Silmarillion, plus a bunch of other books that flesh out the history of Middle-Earth and the places around it.