After five years of court battles, Warner Bros and the estate of J.R.R. Tolkien have settled an $80 million rights dispute over the Lord of the Rings and The Hobbit. The suit was filed by the Tolkien estate in November of 2012 against the studio and their subsidiary New Line and the rightshoulder Saul Zaentz Co., Middle Earth enterprises division, over the use of the property for video games, on-line slot machines and other digital products.
The parties are pleased that they have amicably resolved this matter and look forward to working together in the future.
No details of the deal made were released. There are more Rings projects in the works. The Peter Jackson helmed trilogy made over $3 billion at the box office.