Warner Brothers is officially milking everything they can get out of the Harry Potter franchise. The studio already missed the chance to double up on Harry Potter and the Goblet of Fire, the second longest book in the franchise, and instead decided it was best left as one movie with a lot of the excess parts cut out. Now Warner Brothers has decided to take a different approach with the final book in the series, Harry Potter and the Deathly Hallows, which will be released as two movies.

The studio announced the planned two movies today, along with news that director David Yates, who has pretty much taken over the franchise, will direct both pictures. Steve Kloves will write the movies as he has with all but one of the previous Harry Potter films. Before all the rumors start, the cast has already been confirmed to return, reports Hollywood Reporter.

Part 1 of The Deathly Hallows is due out in November 2010, while part 2 will be released in May 2011. That means Potter fans have three more years to embrace the boy wizard, or author J.K. Rowling has three more years to change her mind and continue the story of the Boy Who Lived. Don’t think Warner Brothers won’t be putting some pressure on for that either. Harry Potter has been the studio’s biggest success, with guaranteed box office success and nobody to share profits with.