Embracer Group buys rights to ‘Lord of the Rings’ and Tolkien-related mental property

Nonetheless from “Lord of the Rings: The Fellowship of the Ring.”

New Line Cinema

Swedish firm Embracer Group stated Thursday that it agreed to accumulate Center-earth Enterprises, which owns an mental property catalog and worldwide rights to “The Lord of the Rings” trilogy and “The Hobbit.”

Embracer is shopping for Center-earth Enterprises from the Saul Zaentz Firm, which has owned the rights to the fantasy works since 1976.

The businesses didn’t disclose the monetary phrases of the deal, which provides Embracer the rights to motion pictures, video video games, board video games, merchandising, theme parks and stage productions referring to the works by JRR Tolkien

“I’m really excited to have The Lord of the Rings and The Hobbit, one of many world’s most epic fantasy franchises be a part of the Embracer household,” stated Lars Wingefors, the corporate’s founder and CEO, in a launch. “Going ahead, we additionally stay up for collaborating with each current and new exterior licenses of our more and more stronger IP portfolio.”

The acquisition was part of six acquisitions by Embracer Group totaling 6 billion Swedish krona (about $572.8 million).

Embracer Group is a video games and entertainment-focused firm with a market capitalization of 87.5 billion Swedish krona (about $8.36 billion). The corporate stated it plans to make use of the Tolkien mental property with Asmodee, its board and card sport subsidiary that has licensed Tolkien IP previously, and Freemode, its new leisure and online game group.

The corporate stated it’s going to discover “further motion pictures based mostly on iconic characters comparable to Gandalf, Aragorn, Gollum, Galadriel, Eowyn and different characters from the literary works of JRR Tolkien.”

The acquisition comes forward of the premiere of Amazon’s “Rings of Energy” collection on Sept. 2. The corporate spent practically $250 million to license the rights in 2017. An animated film from Warner Brothers is predicted in 2024, and a cell sport from Digital Arts can be within the works.

Representatives from Embracer Group didn’t instantly reply to a request for remark.