Video game conglomerate Embracer Group has agreed to acquire the intellectual property rights to The Lord of the Rings and The Hobbit literary works by J.R.R Tolkien.
It will do so by acquiring a secondary fights holder, Middle-earth Enterprises, which acquired the rights to motion pictures, video games, board games and other rights back in the 1970s. Peter Jackson was able to make his Oscar-winning movies based on licenses that went back to Middle-earth Enterprises.

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