Netflix and HBO had also been in contention to acquire the show from author J.R.R. Tolkein's estate, but Amazon ultimately won out in one of the most expensive acquisition deals in history. Let us know your thoughts in the comment section below!
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Lord of the Rings is huge, yet people we left feeling a little bit cheated after Peter Jackson's subpar Hobbit trilogy.
Amazon Studios will produce the Amazon Prime original series in conjunction with the Tolkien Estate and Trust, HarperCollins and New Line Cinema, a production division of Warner Bros.
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"The Lord of the Rings is a cultural phenomenon that has captured the imagination of generations of fans through literature and the big screen", Amazon scripted series chief Sharon Tal Yguado said in a statement.
Set in Middle Earth, the television adaptation will explore new storylines preceding J.R.R. Tolkien's The Fellowship of the Ring. Amazon also noted that the deal also includes a potential spinoff series, which opens up a world of possibilities for the LOTR universe. The big-screen version of the trilogy earned almost $6 billion worldwide, and the final entry, "Return of the King", won the 2003 best picture Oscar. With an all-star cast that included Elijah Wood, Viggo Mortensen, Ian McKellen, Liv Tyler, Sean Astin and Orlando Bloom, The Lord of the Rings trilogy garnered a combined 17 Academy Awards, including Best Picture.
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There are very few other details regarding the new Amazon series, including whether Jackson will be involved or if the show will film in New Zealand, like the movies.