NEW LINE NABS THE GOLDEN RINGS
Monday, August 24 1998
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New Line Cinema, which Time Warner acquired as part of the Turner Broadcasting acquisition, has greenlighted a three-part production of Tolkien's The Lord of Rings that has been budgeted at $130 million, making the trilogy New Line's most costly project ever, published reports said today (Monday). The three films will reportedly be shot simultaneously beginning next year under the direction of Peter Jackson, who insists on working in his native New Zealand. The Los Angeles Times said that the film represented "a rare cooperative venture" between New Line and Disney's Miramax, but it did not describe details of the venture, noting only that Miramax had originally acquired rights to the book from producer Saul Zaentz and allowed Jackson to shop the film elsewhere after he objected to their insistence on compressing the book into a single film. The newspaper quoted Jackson as saying, "The challenge is to capture the vividness of it all -- to take our cameras into Tolkien's world and make it feel as real as the world he describes in the books."
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