Amazon will remake 'Lord of the Rings' as a series

CREDIT New Line Cinema

CREDIT New Line Cinema

Jackson returned to Middle-earth to adapt the Lord of the Rings' predecessor, The Hobbit, into its own trilogy of movies, which were released beginning in 2012. (The same could be said for audiences.) Part of it is Amazon Studios' newfound focus, with Jeff Bezos himself reportedly asking the division to focus more on big, prestige-worthy shows with global appeal, similar to Game of Thrones.

Earlier this month news broke that Amazon was in talks with the estate of author J.R.R. Tolkien to produce a TV series based on his epic Lord of the Rings saga.

Sharon Tal Yguado, head of scripted series, Amazon Studios said in a statement: "The Lord Of The Rings is a cultural phenomenon that has captured the imagination of generations of fans through literature and the big screen".

J.R.R. Tolkien's high fantasy trilogy was most famously adapted between 2001 and 2003 by director Peter Jackson, with the final film, The Return of the King, winning 11 Academy Awards including Best Picture.

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The announcement marks Amazon's first major programming announcement since the departure of former executive Roy Price.

The deal also includes an option for a spinoff, which fans have speculated could potentially utilize storylines from The Silmarillion, a collection of tales which explore the years before The Hobbit and Lord of the Rings took place. (Price resigned in October following sexual harassment allegations made against him).

Amazon is making a Lord of the Rings TV show, but it isn't a straight adaptation of the greatest fantasy series of all time - it's a prequel.

Deadline reported that the Tolkien estate approached Amazon, Netflix and HBO while shopping the project and sought an upfront rights payment in the $200 - $250 million range.

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