J.R.R Tolkien’s iconic books The Hobbit and The Lord of the Rings are set to be acquired by a potential new owner, as Embracer Group has entered talks to acquire Middle-earth Enterprises.
According to a press release from Embracer today, the potential new acquisition could mean the company would have the ability to craft motion pictures, video games, board games, merchandising, theme parks, and stage productions themed after The Lord of the Rings and The Hobbit franchises.
Embracer Group CEO and founder Lars Wingefor said in a statement that the acquisition will help strengthen the company’s IP portfolio,
“I am truly excited to have The Lord of the Rings and The Hobbit, one of the world’s most epic fantasy franchises join the Embracer family, opening up more transmedia opportunities including synergies across our global group.”
The press release indicates that should Embracer choose to create any work, they will require permission from the Tolkien estate and HarperCollins. Additionally, the material must be that which hasn’t yet been explored.
Prior to this acquisition Embracer Group already had access to the tabletop games via Asmodee.
Back in February, the rights for the gaming and film rights books The Lord of the Rings and The Hobbit went on sale. At this time the properties were expected to fetch somewhere around $2 billion.
Right now it isn’t clear exactly how much the company paid to acquire Middle-earth Enterprises. We Got This Covered has reached out for comment.
This massive deal takes place less than a month from the release of Amazon’s new TV series set in Middle Earth, The Lord of the Rings: The Rings of Power. Of course, this show is not a part of the deal with Embracer and will still be launching as planned on the Prime Video streaming service on Sept. 2.