This actually happened a couple months back, but I missed it entirely:
In its quest to launch a hit fantasy series of the Game of Thrones caliber, Amazon has closed a massive deal — said to be close to $250 million — to acquire global TV rights to The Lord of the Rings, based on the fantasy novels by J.R.R. Tolkien. The streaming service has given a multi-season commitment to a LOTR series in the pact, which also includes a potential spinoff series.
The LOTR original series, a prequel to Tolkien’s The Fellowship of the Ring, will be produced by Amazon Studios in cooperation with the Tolkien Estate and Trust; HarperCollins; and New Line Cinema, a division of Warner Bros. Entertainment, which produced the hugely successful LOTR movie franchise.
No details about the deal were disclosed, but it believed to be dwarfing any TV series pact to date with a whopping price tag attached.