Swedish entertainment company buys rights to ‘Lord of the Rings’ films and other Tolkien intellectual property – CNBC

Still image from “Lord of the Rings: The Fellowship of the Ring”.

New Line Cinema

Swedish company Embracer Group On Thursday, it said it had agreed to acquire Middle Earth Enterprises, who owns global rights to the movie trilogy “The Lord of the Rings” and “The Hobbit” as well as other properties related to JRR Tolkien’s books.

Embracer buys Middle-earth Enterprises from Saul Zaentz, which has held the rights to action fiction films since 1976.

The companies did not disclose the financial terms of the deal, which gives Embracer the rights to films, video games, board games, merchandising, theme parks and theatrical performances related to Tolkien’s business.

“I’m really excited that you’re joining the Impressor family, Lord of the Rings and The Hobbit, one of the most epic fantasy franchises,” Lars Wingfors, the company’s founder and CEO, said in a statement. “Going forward, we also look forward to collaborating with both existing and new external licensees for an increasingly robust intellectual property portfolio.”

The purchase was part of six acquisitions by Embracer Group totaling 6 billion Swedish kronor (about $572.8 million).

Embracer Group is a gaming and entertainment focused company with a market capital of 87.5 billion Swedish kronor (about $8.36 billion). The company said it plans to use Tolkien’s intellectual property with Asmodee, its card and gaming subsidiary that has licensed Tolkien IP in the past, and Freemode Group, the new entertainment and video game group.

The company said it will explore “additional films based on iconic characters such as Gandalf, Aragorn, Gollum, Galadriel, Eowyn and other characters from JRR Tolkien’s literary works.”

The purchase comes ahead of Amazon’s “Rings of Power” series premiere on September 2. Amazon spent nearly $250 million licensing rights in 2017. An animated film from Warner Brothers is expected in 2024, and a mobile game from Electronic Arts is also in the works.

Embracer Group representatives did not immediately respond to CNBC’s request for comment.

#Swedish #entertainment #company #buys #rights #Lord #Rings #films #Tolkien #intellectual #property #CNBC

Leave a Comment

Your email address will not be published.