https://www.hollywoodreporter.com/movi ... -in-the-works-1235332695/

Warner Bros. film bosses Michael De Luca and Pamela Abdy signaled that they are not interested in a retread of what Jackson has already done, saying in their own statement: “Twenty years ago, New Line took an unprecedented leap of faith to realize the incredible stories, characters and world of The Lord of the Rings on the big screen. The result was a landmark series of films that have been embraced by generations of fans. But for all the scope and detail lovingly packed into the two trilogies, the vast, complex and dazzling universe dreamed up by J.R.R. Tolkien remains largely unexplored on film. The opportunity to invite fans deeper into the cinematic world of Middle-earth is an honor, and we are excited to partner with Middle-earth Enterprises and Embracer on this adventure.”