Not if they already have a contract that gives you the points on profit where they like it. They don’t routinely hand out points on gross, they routinely deal with actors and directors that have been screwed over before and have developed the cache to be able to demand points on gross. Which is probably part of why the estate didn’t get it in the first place, the Hobbit cartoon flopped, and when these options were bought was before the golden age of CGI and it was a property considered to be largely unfilmable. Then PJ used every filming trick in the book, and wrote a couple of new chapters, to pull off LOTR. But it wasn’t a hot property, so there’s no way they would have given points on gross. Even now, given the difficulty of getting a director for Hobbit, it probably still won’t be considered hot, so nobody will be slavering to get the next option.
If I remember correctly, at one time Jackson wanted to make a “bridge” film that would cover the 60 years between events in “The Hobbit” and the LOTR trilogy.
This would include material from the timeline Tolkien added to the appendix of ROTK, i.e.,when Theoden and Denethor were young, and a mysterious young man named Thorongil appears in Gondor and Rohan..
I don’t know if any of this material will appear in the 3rd “Hobbit” film, but apparently plans for a “bridge” film were scrapped some time back..but then, you never know..would not surprise me if one gets made eventually.
Creative bookkeeping notwithstanding, so much money has been made on the other films, it would seem someone will want to keep the money flowing, and will make the “bridge” film..we shall see, I guess!!