Embracer Corporation buys ‘Lord of the Rings’ film rights, other intellectual property of Tolkien
Still from “The Lord of the Rings: The Fellowship of the Ring.”
New line cinema
Swedish company Embracer Group said on Thursday that it had agreed to acquire Middle-earth Enterprises, owns the worldwide copyrights to the “Lord of the Rings” and “Hobbit” trilogy and other assets related to the JRR Tolkien books.
Embracer is buying Middle-Earth Enterprises from the Saul Zaentz Company, which has owned the film rights to the fantasy works since 1976.
The companies did not disclose the financial terms of the deal, which gives Embracer the rights to movies, video games, board games, merchandising, theme parks and theatrical productions. relating to the works of Tolkien.
Lars Wingefors, founder and CEO of the company, said: “I am truly delighted that The Lord of the Rings and The Hobbit, one of the world’s most epic fantasy series, join the family. Embracer family. “In the future, we also look forward to partnering with both existing and new external licensees in our increasingly robust IP portfolio.”
The acquisition is part of the Embracer Group’s six acquisitions totaling 6 billion Swedish krona (approximately $572.8 million).
Embracer Group is a gaming and entertainment-focused company with a market capitalization of 87.5 billion Swedish krona (approximately $8.36 billion). The company said it plans to use Tolkien’s intellectual property with Asmodee, the card game subsidiary, and the board that licensed the former Tolkien IP, and Freemode, the new entertainment and video game group their.
The company said it will explore “additional films based on iconic characters such as Gandalf, Aragorn, Gollum, Galadriel, Eowyn, and others from JRR Tolkien’s literary works.”
The purchase comes ahead of the premiere of Amazon’s “Rings of Power” series on September 2. Amazon spent nearly $250 million on licensing in 2017. An animated film by Warner Brothers is slated for release in 2024, and an Electronic Arts mobile game is also in the works.
Representatives from Embracer Group did not immediately respond to CNBC’s request for comment.
