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Lord of the Rings: Embracer Group Buys the Rights to Make Games, Movies and More
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Colossal video game holdings company Embracer Group has entered into an agreement to purchase the rights to The Lord of the Rings and The Hobbit and will explore opportunities to create new games, movies, and more based on the IP.
Embracer has acquired Middle-earth Enterprises from The Saul Zaentz Company, and with it the worldwide rights to motion pictures, video games, board games, merchandising, theme parks, and stage productions relating to the writing of J.R.R. Tolkien – as well as matching rights in literary works authorised by the Tolkien Estate and HarperCollins.
The majority of Lord of the Rings media to be released in the last few decades is ultimately owned by Middle-earth Enterprises, with aspects being licensed out for the creation of the likes of Peter Jackson's film trilogies, the Lord of the Rings video games, and so on.
Embracer has said it plans to collaborate with both established and new recipients of these licenses, and will explore other opportunities including "additional movies based on iconic characters such as Gandalf, Aragorn, Gollum, Galadriel, Eowyn and other characters" from Tolkien's work.
"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," said Lars Wingefors, founder and group CEO of Embracer.
"I am thrilled to see what lies in the future for this IP with Freemode and Asmodee as a start within the group. Going forward, we also look forward to collaborating with both existing and new external licensees of our increasingly stronger IP portfolio."
Embracer didn't specify how much the acquisition cost but it also acquired several other companies including Chivalry developer Tripwire Interactive, Tuxedo Labs, and more, declaring its expenses for the whole bundle to be 8.2 billion Swedish krona, or around $787 million dollars.
The Saul Zaentz Company announced its intentions to sell Middle-earth Enterprises earlier this year, with Amazon thought to be the front-runner at the time given the imminent premiere of its Rings of Power series. Embracer has proven itself to be a publishing powerhouse, however, perhaps most notably acquiring three Square Enix developers back in May.
Ryan Dinsdale is an IGN freelancer. He'll talk about The Witcher all day.
source https://www.ign.com/articles/lord-of-the-rings-embracer-group-buys-rights-games-movies
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