OK, that's not exactly accurate, but Warner Bros. apparently plans at least three DVDs for their Watchmen adaptation:
The effort is also a way for Warner to get more DVD bang for not many more bucks. The “Watchmen” film, Mr. Synder said, will probably generate at least three DVDs: “Tales of the Black Freighter,” followed about four months later by release of “Watchmen” itself, and then an “ultimate” edition in which the two are edited together into one megamovie.
“The überfans of this property are going to go crazy for that,” Mr. Snyder said.
The "Tales" DVD won't be live action unfortunately, as a projected $20 million budget caused the studio to go the animation route.
Also in the story is the info that the current cut of Watchmen runs to almost three hours.