A new 'Lord of the Rings' TV series is coming from Amazon

Key Points
  • A new "The Lord of the Rings" TV series will be produced by Amazon Studios and appear on Amazon.
  • The new series will be based on new material taking place before J.R.R. Tolkien's "The Fellowship of the Ring."
  • The multiseason deal gives Amazon global rights, as well as the potential for spinoffs.
A wax version of Gollum from 'The Lord of the Rings' sits on display at the Comic-Con International Convention being held at the San Diego Convention Center.
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The newest TV installment from Middle Earth is headed to .

Amazon Studios — in conjunction with the Tolkien Estate and Trust, and New Line Cinema — will produce a new "The Lord of the Rings" TV series, the company announced Monday. Amazon acquired multiseason, global television rights to the project. The show will be available for Amazon Prime members.

The series will be a prequel to the J.R.R. Tolkien book "The Fellowship of the Ring," and is based on new story lines. There is also potential for spinoffs. The financial terms and series release timing were not disclosed, although a Deadline report said Amazon paid close to $250 million just for the rights without any production costs. Amazon did not immediately respond to a request for comment on the price.

The race for acquisition of premium franchises is tightening, as more tech companies and streaming platforms acquire content.

has had a long-standing relationship with Marvel, and . (, the joint Netflix-Marvel TV show productions will remain.) Meanwhile, earlier reports said Amazon and Apple were bidding for the "James Bond" franchise, along with traditional entertainment companies.