'Lord of the Rings' TV Series Heading to Amazon

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The Lord of the Rings TV series is officially a go over at Amazon, and the corporate giant is clearly going all-in on making this happen. Well, if you can't beat them (with sneaky Petes), join them (with dragons). Rather, the series will introduce new stories that are set before The Fellowship of the Ring, the first book in the trilogy. Amazon's press release does note that the deal with the Tolkien estate "includes a potential additional spin-off series".

Amazon Studios is teaming up with Tolkien's family estate, HarperCollins and New Line Cinema, a division of Warner Bros.

Tolkien's book series was named Amazon customers' favorite book of the millennium in 1999.

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Bilbo Baggins, Gandalf and the rest of Middle Earth are making the switch to the small screen after Amazon announced it has committed to a multi-series adaptation inspired by JRR Tolkien's classic fantasy novels.

According to Deadline, the electronic commerce company closed the deal worth $250 million with a multi-season commitment.

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.

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Amazon has acquired the television rights to J.R.R. Tolkien's famous fantasy universe for a multiseason television show that explores new story lines before the events of "The Fellowship of the Ring". The three films directed by Peter Jackson earned a combined gross of almost $6 billion worldwide.

Amazon's announcement is also notable for what's not in it, chiefly the name of a writer or showrunner who will lead the "LOTR" series and any sort of timeline for production.

With an A-list cast that included Elijah Wood, Viggo Mortensen, Ian McKellen, Liv Tyler and Orlando Bloom, Peter Jackson's "The Lord of the Rings" movie trilogy earned nearly $3 billion worldwide, scooping 17 Oscars in total.

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