Amazon to make The Lord of the Rings TV series

Amazon canceled two female-centered period dramas: The '60s-set "Good Girls Revolt" was not renewed for a second season in December, and the Zelda Fitzgerald series "Z: The Beginning of Everything" was axed this fall when the studio reversed itself after a surprise renewal.

The newest TV installment from Middle Earth is headed to Amazon.

Amazon head of scripted series Sharon Tal Yguado said the conglomerate was honoured to be working with the Tolkien Estate on the collaboration.

The huge American company has acquired global television rights to the Lord of the Rings franchise, based on the best-selling novels by J.R.R. Tolkien. Some can only assume that the show, or one of the spin-offs, could follow the popular game series Shadow of Mordor, or a young Aragorn as mentioned in the end The Hobbit: Battle of the Five Armies.

So this investment would be in addition to the $100 to $150 million the studio would be expected to spend on each season of television.

J.R.R. Tolkien's fantasy novel series will get a new spin as a multiseason TV series that will debut on Prime Video, Business Insider reports. The budget alone for the original Lord of the Rings trilogy was $320 million, so having to spend that much on rights alone is quite the investment.

Amazon, which has some critically acclaimed shows under its belt, invests a not-too-shabby $4 billion a year in original content. Entertainment's New Line Cinema.

Despite Netflix, HBO, and several other large studios having said to be interested, the rights have gone to Amazon, according to Deadline. Some of these include another period piece, this time by the Chinese director Wong Kar-wai; three comedies, and a Seth Rogen comic book adaptation.

Vanessa Coleman