Swedish video-game and media holding company Embracer Group AB has purchased the complete franchise rights to Lord of the Rings and The Hobbit. J R.R. Tolkien's high-fantasy sagas have notably been previously adapted by director Peter Jackson in productions for New Line Cinema and Warner Bros. An Amazon prequel series, The Rings of Power, is set to debut on September 1st, 2022.
Published in 1937 and 1954 respectively, The Hobbit and The Lord of the Rings are seminal works in both Tolkien's own world of Middle Earth and in the fantasy genre. Telling the story of brave Fellowships uniting to destroy an enchanted ring that can turn the tides in an eternal struggle between light and darkness, Tolkien's works continue to influence audiences, be it through his writing or through Jackson's two film trilogies, released across the 2000s and 2010s respectively. But while Amazon Prime's The Rings of Power's recently announced two-episode premiere will soon introduce new and old fans to a previously unseen era of Middle-Earth, a sudden change in franchise ownership may call the future of the franchise into question.
As reported by Variety, Swedish video-game and media conglomerate Embracer Group AB have purchased Middle Earth Enterprises from previous owners The Saul Zaentz Company. By purchasing Middle Earth Enterprises, Embracer now owns the rights to produce films, video games, books, theatrical productions, theme parks, and merchandise based on The Lord of the Rings, The Hobbit, and other entries from Tolkien's bibliography. While no final price was disclosed, it had been previously estimated that the Middle Earth properties' value was at least worth $2 billion.
The Saul Zaentz Company previously suggested selling Lord of the Rings' film rights in February 2022 alongside the rights to produce video games based upon Tolkien's Middle Earth. The company purchased the rights and formed what would become Middle Earth Enterprises in 1976, with The Saul Zaentz Company then licensing out the rights to companies such as Rankin/Bass Animated Entertainment, Miramax, and New Line Entertainment to produce films based upon the properties, having an active role in furthering the franchise's future. As such, the companies' relinquishment of ownership over Tolkien's works marks a major change in the franchise's control for the first time in almost five decades.
The Saul Zaentz Company's sale of Middle Earth Enterprises may prove to have a far-reaching influence on The Lord of the Rings franchise, which to this day remains a highly influential work. While Amazon's The Rings of Power may escape the sudden change for now through a legal loophole regarding television series, productions such as the animated War of the Rohirrim theatrical movie may get called into question as Embracer assumes control of the franchise. As Embracer takes a hold of the complete rights to Tolkien's worlds, fans are sure to be anxious in regards to what this may mean for the future of the fantasy world.
Source: Variety