Look out, Tolkien fans, new The Lord Of The Rings movies are officially in development.

According to both The Hollywood Reporter and Deadline, New Line Cinema and Warner Bros Pictures have signed a new multi-year agreement with Embracer Group AB’s Middle-Earth Enterprises for new The Lord Of The Rings movies.

The multi-year deal with rights holders Embracer Group AB allows WB to develop new feature films based on J.R.R. Tolkien’s Lord of the Rings books and The Hobbit. Embracer Group, the Swedish gaming company, acquired the rights to LOTR film, games, merchandise, theme parks and live productions when it purchased rights holder Middle-earth Enterprises last year from The Saul Zaentz Company.

Peter Jackson directed The Lord Of The Rings trilogy, released from 2001 to 2003. The series earned a combined US$2.9 billion at the box office. Jackson returned to direct The Hobbit trilogy (2012 to 2014). New Line also has an animated movie titled The War Of The Rohirrim slated for 2024.

Lee Guinchard, CEO of Embracer Group’s operative group Freemode, said:

“Following our recent acquisition of Middle-earth Enterprises, we’re thrilled to embark on this new collaborative journey with New Line Cinema and Warner Bros. Pictures, bringing the incomparable world of J.R.R. Tolkien back to the big screen in new and exciting ways. We understand how cherished these works are, and working together with our partners at New Line Cinema and Warner Bros. Pictures, we plan to honor the past, look to the future, and adhere to the strongest level of quality and production values.”

Warner Bros Pictures Group co-chairs and CEOs Michael De Luca and Pam Abdy said:

“Twenty years ago, New Line took an unprecedented leap of faith to realize the incredible stories, characters and world of The Lord of the Rings on the big screen. The result was a landmark series of films that have been embraced by generations of fans. But for all the scope and detail lovingly packed into the two trilogies, the vast, complex and dazzling universe dreamed up by J.R.R. Tolkien remains largely unexplored on film. The opportunity to invite fans deeper into the cinematic world of Middle-earth is an honor, and we are excited to partner with Middle-earth Enterprises and Embracer on this adventure.”

This is all separate and not related or connected to Amazon Prime Video’s ongoing The Lord Of The Rings The Rings Of Power TV series (check out our review here).