Amazon will produce a multi-season 'Lord of the Rings' TV series

CREDIT Courtesy of New Line

CREDIT Courtesy of New Line

Amazon - owned by Jeff Bezos, reportedly a huge Tolkien fan - was considered the frontrunner when the series was first revealed, and reportedly locked down the rights for an estimated $200 million; that figure doesn't factor in an expected production budget of $150 million per season.

Amazon has announced that it has acquired the TV rights for the book series, with a multi-season commitment. The film trilogy also garnered a combined 17 Academy Awards, including Best Picture.

Plans for the new series were announced by Amazon Studios on Monday with U.S. entertainment trade website Deadline quoted as saying it understands that the deal is "dwarfing any TV series pact to date with a whopping price tag attached". His published works, including those compiled posthumously, include prequel mythologies and histories of his fantastical universe like The Silmarillion and The History of Middle-earth.

Given the rather extensive attention direction Peter Jackson gave to The Lord of the Rings, not to mention The Hobbit, it's not unreasonable to ask why Amazon would want to walk down this path in the first place.

Amazon is said to be exploring the idea of starting their tale before the events of The Fellowship of the Ring, diving into Tolkien's lore before touching the story we know and love. As more details emerge, we will be sure to write about it here as this could be the biggest thing to happen to Amazon Studios since its forming a few years ago.

As Variety reported, a series adaptation of J.R.R. Tolkien's world-renowned fantasy novels has been in development at Amazon after being shopped by the Tolkien estate and Warner Bros.

Amazon Studios will produce the series while working with the Tolkien estate and trust, HarperCollins, and the

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