Zaslav has mentioned in previous calls the need for more franchises on the big screen.

Warners re-teamed with Jackson for a trilogy of films based onThe Hobbit, a co-production with MGM.

Combined, the six films grossed nearly $6 billion in box office worldwide.

The Hobbit: An Unexpected Journey

Gollum (voiced by Andy Serkis) in 2012’s ‘The Hobbit: An Unexpected Journey’Warner Bros. Pictures/courtesy Everett Collection

Tolkien remains largely unexplored on film.

Embracer in Augustbought the Middle-earth film rightsfrom late Oscar-winning producer Saul Zaentz.

Westworld