The Lord of the Rings is one of the biggest properties in the entertainment industry, and we could see Middle Earth expanding even further.
As notified by Variety, various movies and TV rights from J.R.R. Tolkien properties are up for grabs in an upcoming auction. It's expected that they could sell for a precious $2 billion.
The Lord of the Rings Film and Videogame Rights Are Being Auctioned
Saul Zaentz Co. will sell its Tolkien holdings, which includes that of The Lord of the Rings, The Hobbit, as well as two unfinished compilations published after the writer's death: The Silmarillion and The Unfinished Tales of Numenor and Middle-Earth.
click to enlargeAltogether, in-house producers estimate these could sell for an extortionate fee:
Zaentz Co. has hired ACF Investment Bank to handle the sale process, which is unfolding this week as bankers make the rounds of the logical Hollywood buyers. The Tolkien properties are projected to fetch at least $2 billion, based on recent high valuations for top-tier IP and content producers.
The timing of these sales isn't a coincidence, as Amazon's big The Lord of the Rings TV show is on the way. After previously revealing story details, the first trailer will premiere during the Super Bowl giving fans their first glimpse at the big-budget tale.
Given the anticipation for this upcoming property, it's likely Saul Zaentz Co. is looking to make the most out of the hype.
Variety also reports Amazon is likely to purchase these rights, possibly making Prime the new entertainment home of J.R.R. Tolkien.
For more articles like this, take a look at our Lord of the Rings and Gaming News page.