Embracer's talk about The Lord of the Rings says one thing: 'Fly, you fools!'

In 2022 Embracer acquired the rights to most media relating to The Lord of the Rings, a complex deal that nevertheless gives it control over pretty much everything to do with the series outside of the original books (which among other things remain controlled by the Tolkien estate). This operation is managed by a subsidiary set up for the purpose, Middle-earth Enterprises, and so far their main output has been a bit of a hangover from before it acquired the rights: a Gollum game so dodgy that it more-or-less killed Daedelic as a developer.