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Amazon acquires Lord of the Rings rights for TV
MUMBAI: Amazon acquired the global television rights to The Lord of the Rings (LOTR), based on the celebrated fantasy novels by JRR Tolkien, with a multi-season commitment. Set in middle earth, the adaptation will explore new storylines preceding Tolkien’s first novel of the series The Fellowship of the Ring. The deal includes a potential additional spin-off series.
Amazon Studios will produce the upcoming Amazon Prime original in cooperation with the Tolkien Estate and Trust, HarperCollins and New Line Cinema, a division of Warner Bros Entertainment.
Amazon Studios head of scripted series Sharon Tal Yguado said, “LOTR is a cultural phenomenon that has captured the imagination of generations of fans through literature and the big screen. We are honored to be working on this exciting collaboration for television and are thrilled to be taking LOTR fans on a new epic journey in middle earth.”
Tolkien Estate and Trust and HarperCollins representative Matt Galsor said, “Sharon and the team at Amazon Studios have exceptional ideas to bring to the screen previously unexplored stories based on JRR Tolkien’s original writings. We are delighted that Amazon, with its longstanding commitment to literature, is the home of the first-ever multi-season television series for LOTR.”
A world-renowned literary work, and winner of the International Fantasy Award and Prometheus Hall of Fame Award, LOTR novels was named Amazon customers’ favorite book of the millennium in 1999 and Britain’s best-loved novel of all time in BBC’s The Big Read in 2003. Its theatrical adaptations, from New Line Cinema and Director Peter Jackson, earned a combined gross of nearly $6 billion worldwide. With an all-star cast that included Elijah Wood, Viggo Mortensen, Ian McKellen, Liv Tyler, Sean Astin and Orlando Bloom, the LOTR trilogy garnered a combined 17 Academy Awards, including Best Picture.
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iWorld
Netflix cuts jobs in product division amid restructuring
Layoffs hit creative studio unit as leadership and strategy shifts unfold.
MUMBAI: The streaming wars may be fought on screen, but the latest plot twist is unfolding behind the scenes. Netflix has reportedly begun laying off several dozen employees from its product division as part of an internal reorganisation, according to a report by Variety. The cuts are believed to have primarily affected the company’s creative studio unit, which works on marketing assets such as in app trailers, promotional visuals and live experience content for the streaming platform.
The company has not disclosed the exact number of employees impacted.
According to the report, the layoffs were not tied to employee performance. Instead, the restructuring eliminated certain roles while other employees were reassigned to different teams within the organisation.
The roles affected are understood to include designers, producers and creative specialists responsible for marketing and brand experience initiatives.
The job cuts come as Netflix adjusts its leadership structure and reshapes its product and creative teams. Last month, Elizabeth Stone was promoted from chief technology officer to chief product and technology officer, giving her oversight of product, engineering and data operations across the company.
Earlier, in December 2025, Netflix also appointed Martin Rose as head of creative for global brand and partnerships, a move seen as part of a broader restructuring of the company’s brand and product functions.
Despite the layoffs, Netflix remains one of the largest employers in the streaming sector. The company is estimated to employ around 16,000 people globally, with roughly 70 percent of its workforce based in the United States and Canada. In 2023, the company reported approximately 13,000 employees, indicating that its headcount had grown significantly before the latest restructuring.
The workforce changes arrive at a time when Netflix is navigating a shifting financial and strategic landscape in the global entertainment industry.
The streaming giant recently secured $2.8 billion in additional cash after receiving a breakup fee from Paramount Skydance following its withdrawal from a deal involving Warner Bros. Discovery.
Speaking to Bloomberg, Netflix co chief executive Ted Sarandos explained that the company had evaluated multiple scenarios during the negotiations but chose not to match the competing offer once it learned that a higher bid had been submitted.
Netflix had capped its offer at $27.75 per share and ultimately stepped back rather than pursue Paramount’s $111 billion acquisition deal, which included a personal guarantee.
Sarandos also cautioned that the financing structure behind the Paramount Skydance transaction could have ripple effects across the entertainment industry.
According to him, the debt heavy deal could trigger significant cost cutting, with David Ellison, chief executive of Paramount Skydance, expected to eliminate about $16 billion in costs and potentially cut thousands of jobs as part of the integration process.
For Netflix, the current restructuring appears to be part of a broader attempt to streamline operations while continuing to invest in product, technology and global content even as the streaming industry enters a new phase of consolidation and financial discipline.
