A major deal was made between Embracer Group AB, Warner Bros and New Line for new adaptations of the films The Lord of the Rings and The Hobbit.

The managing director of Warner Bros. Discovery, David Zaslav, through a video conference, announced the multi-year agreement to produce “many” films without having known the amount of the agreement with the Embracer Group, the company that a few months ago bought the rights to most of the creations by J.R.R. Tolkien (JRR Tolkien).

“The opportunity to invite fans deeper into the cinematic world of Middle-earth is a great honor, and we are thrilled to partner with Middle-earth Enterprises and Embracer on this adventure,” said Michael De Michael DeLuca and Pam Abdy

The films will be made through Warner Bros.’s New Line Cinema production company, as was the case with the trilogy directed by Peter Jackson between 2001 and 2003. The films grossed nearly $3 billion worldwide. , while the third film “The Return of the King” won 11 Oscars, including the Oscar for best picture according to Variety.