Amazon is turning The Lord of the Rings into a TV show

New Line Cinema

In the statement announcing the news, the company clarifies that the new show will "explore new storylines preceding J.R.R. Tolkien's The Fellowship of the Ring", with a potential spinoff series also included as part of the deal.

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. AmazonStudios will produce a multiseason television series in cooperation with New Line Cinema, the Tolkien estate and HarperCollins. Amazon has plenty of acclaimed programming (we're big fans of The Man in the High Castle and The Tick among others), but doesn't have the kind of genre-focused mega franchise that, for example, chief competitor Netflix has with the assorted Marvel shows or HBO has with Game of Thrones. R. R. Tolkien's beloved fantasy series The Lord of the Rings, despite the fact that Peter Jackson's film trilogy was pretty much flawless and a remake is wholly unnecessary.

"We are delighted that Amazon, with its longstanding commitment to literature, is the home of the first-ever multi-season television series for 'The Lord of the Rings, '" said Matt Galsor, a representative for the Tolkien Estate and Trust and HarperCollins.

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As Variety exclusively 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. The S&P 500 index is up 19.4% for the last 12 months.

Given that Peter Jackson's Lord of the Rings trilogy won a combined 17 Oscars and, when you throw in the three Hobbit movies, grossed almost $6 billion worldwide, you would think that the entertainment industry might be inclined to leave it way-more-than-well-enough alone.

Despite throwing around money like it grows on talking trees, Amazon lacks a Game of Thrones-sized hit.

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