Well, it's official - The Lord of the Rings is getting a small screen remake that will become the most expensive TV show of all time.
Last year Amazon beat Netflix to the rights to make the series when they sealed a $250m deal with the estate of author J.R.R. Tolkien, Harper Collins, and New Line Cinema.
According to the small print of the deal, Amazon must be in production of the series within two years of the deal being made or the rights revert back to the original owners. It is thought that once everything has been tallied up the show will have cost more than $1bn.
Amazon boss Jeff Bezos reportedly set out with the intention of finding and creating something as successful as HBO's Game of Thrones and he may well have succeeded, providing his expensive gamble pays off.
As part of the deal that was thrashed out last year, the show seems likely to run for five seasons, with the possibility of a spin-off series. Basically, anything could happen - it's a really complicated agreement.
One of the parties most involved in the deal, attorney Matt Galsor, told The Hollywood Reporter: "This is the most complicated deal I've ever seen.
"But it was handled relatively quickly, in a way that brought the parties together in a close relationship. It was tough, but everybody liked each other and felt like a team more as the deal closed."
So, what do we know about the series so far?
Well, it's unlikely that they'll follow the same story as the three films did. What's the point in rehashing a story that was told so well - it won 21 Oscars for Christ's sake.
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However, there is a chance they will use 'material' from Peter Jackson's trilogy - exactly what that means is unclear. Peter Jackson could even get involved in making the series, who knows?
There is certainly enough material to work with - Tolkien famously created thousands of years of history for his vast world of Middle Earth.
One theory is that it could be the tale of a young Aragorn. Another is that it will mimic some of the plots for popular video games such as Shadow of Mordor.
Basically, everything between The Hobbit and The Fellowship of the Ring is up for discussion.
Regarding who will be involved in the project, very little is known at all. One thing we do know is that Ian McKellen wants to come back as Gandalf.
Speaking on The Graham Norton Show recently he said: "I haven't said yes because I haven't been asked. But are you suggesting that someone else is going to play it? Gandalf is over 7,000 years old, so I'm not too old."
We probably won't learn a great deal about it for a while as they'll be taking years to produce it. At the price it is costing it's too big a gamble for them to fail.
Featured Image Credit: New Line CinemaTopics: TV and Film, UK Entertainment, US Entertainment, Amazon, Lord Of The Rings, TV Show