Warner Bros. gearing up for the New Lord of the Rings films

Studio giant Warner Bros. and its film label  New Line have announced a deal that includes developing more Lord of the Rings films.

According to The Hollywood Reporter, Warner Bros. and New Line have closed a multi-year deal with Embracer Group AB, which holds the film, gaming, merchandise, theme parks and live productions rights to Lord of the Rings.

Peter Jackson directed the Lord of the Rings trilogy, released from 2001-03. The series has grossed a combined $2.9 billion at the box office, with 2003’s Return of the King winning the Oscar for best picture. Then  Jackson returned to direct The Hobbit trilogy from 2012-2014. The upcoming films are not expected to be remakes of the previous trilogies of Hobbit and Lord of the Rings. 

In a statement, Jackson and his Lord of the Rings partners Fran Walsh and Philippa Boyens noted they were aware of the latest development. Said the trio: “Warner Bros. and Embracer have kept us in the loop every step of the way. We look forward to speaking with them further to hear their vision for the franchise moving forward.”

Amazon holds the TV rights to Lord of the Rings, with its big-budget Rings of Power debuting last year.