'Lord of the Rings' TV Series in the Works at Amazon!

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AmazonStudios will produce a multiseason television series in cooperation with New Line Cinema, the Tolkien estate and HarperCollins. Amazon has reportedly committed to multiple seasons and a potential spinoff, and the stories will reportedly precede the events depicted in the Lord of the Rings book series.

Interestingly enough, it doesn't sound like this will be a strict adaptation, and will bring in elements of Tolkien's writing to explore new storylines preceding The Fellowship of the Ring, which is the first book in the Lord of the Rings trilogy.

So when rumors circulated that Amazon was developing a Lord of the Rings series, it seemed like an ill-advised idea for anyone who loved the Lord of the Rings trilogy and hated The Hobbit.

A spokesperson for the Tolkien estate confirmed that it would be a multi-season commitment, meaning fans will have tons of hours of Middle Earth goodness to feast on.

The three film adaptations of "The Lord of the Rings", from New Line Cinema and director Peter Jackson, earned a combined gross of almost $6 billion worldwide.

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Amazon on Monday said it snagged the global television rights for "The Lord of the Rings" TV adaptation, getting a hold of what should become one of the most-anticipated TV series going forward.

But there is no indication of whether it will also take place before The Hobbit. In fact, the head of Amazon, Jeff Bezos, hasn't been shy about his desire to have a hit show like Game of Thrones on his platform.

Amazon has greenlit a TV series based on The Lord Of The Rings franchise.

It is reported that the upfront rights payment for JRR Tolkien's source epic alone are "said to be in the $200 - $250 million range, though some sources say the fee could be slightly below $200 million". The website added that that comes before costs for development, talent and production and that "a fantasy series of that magnitude is likely to cost $100 - $150 million a season".

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