The cost of the Lord of the Rings universe has been named

The cost of the Lord of the Rings universe has been named
Photo by John Salvino / Unsplash

The amount paid by Embracer for the rights to The Lord of the Rings and The Hobbit has been revealed
Swedish company Embracer has paid almost $396 million for the rights to the Lord of the Rings franchise. The sum of SEK 4.25 billion ($395.6 million) paid for Middle-earth Enterprises was disclosed in Embracer's annual report.

At the time the contract was awarded, none was specified in the documents. The deal with Saul Zaentz gave Embracer the film, video game, board game, merchandising, theme park and stage production rights relating to the Lord of the Rings and Hobbit franchises, as well as related rights to other Middle-earth-related literary works authorised by The Tolkien Estate and HarperCollins Publishers, which have not yet been published.

The news comes just days after Embraced announced that it would be restructuring, which would lead to layoffs and the closure of some divisions. The restructuring will focus on "cost savings, capital allocation, efficiency and consolidation", with CEO Lars Vingefors saying it would be "painful to see talented team members leave".

Filming of the second season of the series Lord of the Rings: The Rings of Power
Amazon Studios managed to complete all filming before the writers' strike began, so the show's second season should be released without delay. Warner Bros. has also announced that it has signed a contract with new owners to make films based on The Lord of the Rings.