From Mike Fleming of Deadline Hollywood:
After New Line Cinema announced Cate Blanchett’s return to Middle Earth for ‘The Hobbit,’ I’m told that Orlando Bloom will likely be the next original cast member set for an encore. He’s near a deal to return as Elven archer Legolas. And it’s for more than a cameo, I’m told. I’d have expected them to first set Ian McKellen (Gandalf), Andy Serkis (Gollum) or Hugo Weaving (Elrond), whose characters figured in the book. But those talks have been arduous and aren’t completed yet.
Now, my recollection may be a bit shaky, but did Legolas or Galadriel make appearances in Tolkien’s The Hobbit novel? I think not. But this is Hollywood, where the face you can put on the poster is often more important than that silly little thing called story. So it doesn’t surprise me that stars like Bloom and Blanchett would be invited back. And hey, in this case, I doubt fans will raise much of a ruckus, since Legolas in particular had several scene-stealing sequences in the “Rings” films. Might be exciting to see him do it again.