Jania Ashlynn
David Zaslav, the CEO of Warner Bros. Discovery has announced that his studio has acquired the rights to produce Lord of the Rings films.
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A deal was struck with Embracer Group, a Swedish gaming company that currently owns the rights to the franchise. Warner Bros. is working on producing multiple new Middle Earth-set movies. The deal includes rights to the Lord of the Rings and The Hobbit books. The storylines for the films have yet to be released.
Good Progress
The director of both Lord of the Rings and The Hobbit, Peter Jackson, is rumored to be included in the projects in some way. His collaborators, Fran Walsh and Phillippa Boyens are being included in the projects as well. Their roles have yet to be discussed.
The CEO of Freemode, a division of Embracer group, released a statement following the closing of the deal.
“Following our recent acquisition of Middle-earth Enterprises, we’re thrilled to embark on this new collaborative journey with New Line Cinema and Warner Bros. Pictures, bringing the incomparable world of J.R.R. Tolkien back to the big screen in new and exciting ways. We understand how cherished these works are and working together with our partners at New Line Cinema and Warner Bros. Pictures, we plan to honour the past, look to the future, and adhere to the strongest level of quality and production values.”
Incredible Accolades
The Lord of the Rings and The Hobbit franchises have been both box office and critical successes. The Lord of the Rings trilogy grossed over $2.9 billion worldwide and earned a total of 17 Academy Awards while The Hobbit trilogy grossed over $3 billion worldwide and won three Academy Awards.
Both franchises have also been praised by critics, with The Lord of the Rings trilogy receiving an overall 95% on Rotten Tomatoes and The Hobbit trilogy receiving an overall 74%. The success of the franchises have resulted in an immense following with fans around the world.
