A new Lord of the Rings TV series is coming to Amazon, and it will be produced by Warner Bros.
The show will be based on J.R.R Tolkien's original novels, but with a new story set before Fellowship of the Ring.
Tolkien's books have been adapted for the big screen several times before, with Peter Jackson's The Lord of the Rings and The Hobbit trilogies being the most famous (and lucrative).
The new series will follow 'a journey to Middle Earth' as 'new characters [are] created' for a show that will also involve 'awe-inspiring creatures.' So, don't expect to see Frodo and Gandalf -- at least not yet.
It's not clear whether or not this new LOTR series will turn into a franchise in its own right, but it probably will if Amazon has paid $250 million upfront.
Amazon has announced that they are spending $1billion on creating original TV shows and movies, so this is just a small fraction of their content budget. It also indicates Amazon's growing ambition in the global TV market and its desire to challenge Netflix head-on.