Hollywood
New Lord of the Rings film in works with Stephen Colbert co-writing
Late-night host joins Tolkien universe as franchise expands with new story
LOS ANGELES: After more than a decade behind the late-night desk, Stephen Colbert is setting course for Middle-earth. The comedian and long-time The Lord of the Rings superfan has announced he will co-write and develop a new film in the beloved fantasy franchise once his run on The Late Show with Stephen Colbert ends in May.
In a video posted on Tuesday, Colbert confirmed that he will begin work on the project following the end of his 11-year stint as host of CBS’s late-night show, marking a clear shift from monologues to Middle-earth.
Colbert shared the update alongside filmmaker Peter Jackson, the director behind the original trilogy that turned Tolkien’s sprawling tale into a global cinematic phenomenon. For Colbert, this is less a career pivot and more a passion project years in the making.
The film, tentatively titled “Lord of the Rings: Shadow of the Past”, is still in early development, with no director attached yet. Colbert will be joined in the writing process by his son, screenwriter peter mcgee, and Philippa Boyens, who helped shape the original films.
This project marks one of two new entries currently in the works under Warner Bros Discovery and New Line Cinema. The other, The Lord of the Rings: The Hunt for Gollum, is already in pre-production, signalling a fresh push to expand Tolkien’s cinematic universe.
First published in the mid-1950s, Tolkien’s epic has long held a firm grip on readers and viewers alike. Jackson’s original trilogy alone grossed nearly $3 billion worldwide, with The Lord of the Rings: The Return of the King sweeping the Academy Awards, including best picture.
For Colbert, whose love for Tolkien lore is well documented, the move feels almost inevitable. The punchlines may pause, but the storytelling continues, this time with a ring, a quest, and perhaps a few surprises tucked along the way.
Hollywood
Paramount eyes $24bn Gulf support to fund Warner Bros Discovery merger: Reports
Sovereign funds line up funding as media giants chase streaming scale
NEW YORK: Paramount Skydance is in talks to secure nearly $24 billion in equity commitments from Gulf sovereign wealth funds to support its planned takeover of Warner Bros. Discovery, according to a WSJ report.
The funding push comes as Paramount Skydance advances its proposed $110 billion deal for Warner Bros. Discovery, which carries an equity valuation of $81 billion and is expected to close in the third quarter of 2026.
At the heart of the financing plan are three major Gulf investors. Saudi Arabia’s Public Investment Fund is expected to contribute roughly $10 billion, while the Qatar Investment Authority and Abu Dhabi-based L’imad Holding are likely to make up the remainder.
Crucially, the proposed investments are structured as non-voting stakes. This means the Gulf backers would not have direct control in the combined entity, a move designed to ease regulatory concerns in the United States. Paramount executives reportedly do not expect the deal to trigger scrutiny from bodies such as the Committee on Foreign Investment in the United States or the Federal Communications Commission.
If completed, the merger would bring together a formidable portfolio of entertainment and news assets, including CNN and CBS. The combined entity aims to better compete in a fast-evolving media landscape where streaming platforms are steadily pulling audiences away from traditional television.
The deal reflects a broader shift in global media, where scale is increasingly seen as essential to survive the streaming wars. By pooling content libraries, technology and distribution, Paramount Skydance and Warner Bros. Discovery are betting on size and synergy to drive future growth.
The involvement of deep-pocketed Gulf investors also underscores the growing role of sovereign wealth in shaping global media consolidation, particularly at a time when high-value deals demand equally large financial backing.
With shareholder votes and regulatory milestones still ahead, the proposed tie-up remains one of the most closely watched media deals of the year. If it clears the final hurdles, it could redraw the competitive map of the global entertainment industry.
