Amazon beat out Netflix and purchased the rights to air the show for $250 million.
Last year, Amazon inked a deal to bring The Lord of the Rings series to the small screen. It cost $250 million and was signed with the Tolkien estate, publisher HarperCollins and New Line Cinema in November.
Given that they have only two years to kick-off production, budgets are already being discussed. THR reports that casting, visual effects and production costs may reach the $1 billion mark. This would make the series the most expensive show ever produced on television.
The Crown, an award-winning Netflix drama series, previously held the title. It cost $13 million per episode with 20 episodes in its latest season. Game of Thrones reportedly also upped their budget to $15 million per episode. The final six episodes of the GoT series will be aired later this year.
While little is known about the plot details of the series, Amazon does provide some info. The series will “explore new storylines preceding J.R.R. Tolkien’s The Fellowship of the Ring.”
Peter Jackson has yet to confirm whether or not he will be on board as an executive producer of the series. He directed, produced and wrote The Lord of the Rings trilogy and The Hobbit trilogy.
Amazon Studios will produce the five-season series that includes the potential for an additional spin-off series.