Warner Bros. announced today that the adaptation of J.K. Rowling's final Potter book, "Harry Potter and The Deathly Gallows" will be released as two films. Part I will hit theaters during the 2010 holiday season, with Part II following in Summer 2011.

Read the full press release here.

This is a genius business move by Warner Bros. Considering the first five Potter pictures have each grossed at least $795 million (!!) worldwide, the studio must be understandably worried about the imminent end of its mammoth cash cow.

There are only two more of Rowling's books left to adapt (the 6th, "Harry Potter and the Half-Blood Prince" comes out in November). Considering how much control Rowling has maintained over her beloved literary creation, I can't imagine the author approving more Potter movies that are based on stories SHE DIDN'T WRITE.

So by splitting the final film into two parts, Warner Bros. has basically given themselves an 8th installment of one of the most profitable franchises in movie history. One that will get a nice boost of (free) publicity from the 'To Be Continued...' nature of the project.

Of course, there is the potential downside. Director David Yates, who did 'Order of the Phoenix' and is helming the final two Potter movies, should talk to the Wachowski Brothers about their experience with the final 2 'Matrix' films in 2003. "The Matrix Reloaded" was so such a letdown for critics AND fans that by the time "The Matrix Revolutions" came out a few months later, no one cared. That third film was the least successful of 'The Matrix' trilogy.

Of course, the built-in audience for the Harry Potter movies is much larger, so chances of a severe drop-off are slim. But still, Mr. Yates probably will feel just a little bit of pressure wrapping up the Boy Wizard's story.