New 'Lord of the Rings' movies are coming after Warner Bros. Discovery secured the rights to J.R.R. Tolkien's books
New Line Cinema, the Warner Bros.-owned production company behind the original"Lord of the Rings" and"Hobbit" films, struck a deal with Swedish gaming company Embracer Group, which currently owns the film rights to J.R.R. Tolkien's books.
With additional WBD movies, Tolkien fans will have multiple options when it comes to adaptations of the famed author's epic fantasy novels: Amazon's big-budget TV show,"WBD also reported quarterly results on Thursday. Revenues declined 9% to hit $11 billion for the quarter, slightly below Wall Street's expectations of $11.3 billion. The company reported an earnings loss of $2.1 billion, or 86 cents per share.
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