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Yeah, I was thinking the same thing as the Prince there -- the reporting in that piece seemed to be pretty ill-informed all the way round.
I highly doubt McKellan would prefer retirement to one last Middle-earth adventure. He seems to have enjoyed the first one so much. The factor with him is, obviously, that he's not getting any younger. But I doubt he'd even have to work all that hard on the picture, depending on how much White Council stuff they work in there. After all, Gandalf disappears for a large-ish chunk of the story.
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