Embracer Group News The Lord of the Rings

Embracer Group Paid $396 Million For The Rights To The Lord Of The Rings

Embracer Group revealed during its its annual report that the publishing giant paid $396 million to acquire rights to The Lord of the Rings.

The deal encompasses a number of multimedia properties within the Lord of the Rings brand, including motion picture, video game, board games, merchandising, theme parks, and stage production rights to The Lord of the Rings and The Hobbit. It also secured Embracer matching rights in other works pertaining to Middle-earth literary works authorised by the Tolkien Estate and HarperCollins.

The news comes following Embracer’s plans for a massive restructuring within the company, which is expected to result in the closure of a number of studios. Furthermore, the industry giant revealed that it is looking to transform The Lord of the Rings into one of the biggest franchises in gaming.

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In wake of the restructuring plans, Crystal Dynamics released a statement assuring fans that Embracer’s plans won’t affect development of the new Tomb Raider game.

[Source – Deadline]