Embracer buys rights to Lord of the Rings, The Hobbit, and a bunch of other stuff
Swedish conglomerate Embracer Group has announced deluge of major acquisitions that will see it nab the rights to The Lord of the Rings and The Hobbit literary works and purchase a number of notable studios and companies including Tripwire Interactive, Tuxedo Labs, and more.
Okay, let's start from the top. The company has announced a total of six acquisitions at a combined price of SEK 8.2 billion ($788 million), comprising four buyouts, one undisclosed deal, and one major intellectual property acquisition that will essentially grant it the keys to the world of Middle-earth.
Starting with the latter, Embracer has entered into an agreement to acquire Middle-earth Enterprises, which is the division of The Saul Zanetz Company that owns the worldwide rights to movies, video games, board games, merchandising, stage productions, and theme parks relating to the literary works of The Lord of the Rings book trilogy and The Hobbit.
Embracer struck that deal through its Freemode subsidiary and explained the move is in line with its "IP-driven trans media strategy." The company has indicated it will look to create movies based on key characters from The Lord of the Rings like Gandalf, Aragorn, Galadriel, Eowyn, and Gollum. It also aims to "provide new opportunities" for fans to explore J.R.R. Tolkien's fantasy world by creating "other experiences," such as the board games that have already been developed by Embracer's Asmodee Group subsidiary.
"I am truly excited to have The Lord of the Rings and The Hobbit, one of the world’s most epic fantasy franchises join the Embracer family, opening up more transmedia opportunities including synergies across our global group," said Embracer CEO Lars Wingefors. "I am thrilled to see what lies in
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