lord of the rings
The Lord of The Rings films are based on JRR Tolkien's novels Getty Images

Amazon Studios is looking to take advantage of the fantasy drama trend in television with its eye on creating a series based on Lord of The Rings. According to a report by Variety, the digital streaming company is in talks with the estate of the author JRR Tolkien to purchase the rights to his acclaimed book.

Sources told the entertainment site that Amazon CEO Jeff Bezos himself is taking part in the possible deal, though talks are still in the early stages. If a sale is confirmed, Amazon will be creating the show in conjunction with Warner Bros TV. The company's film division was responsible for the successful movie trilogy which together grossed more than $2.9bn (£2.2bn) worldwide.

According to Deadline, rights to the books are expected to come with a hefty price tag of $200m to $250m, with costs for development, talent and production expected to make the proposed show one of the most costly.

The plans are clearly in reaction to the success of HBO's Game Of Thrones, which is based on George R R Martin's A Song of Fire And Ice.

Despite LoTR's success in both literary and cinematic form, and its extensive worldwide fan base, not everyone is keen on seeing a retelling on the small screen. Many people took to Twitter to express disinterest in a series while others opined that it was too early for a TV adaptation.

The Lord of the Rings: The Return of the King, the third film in the trilogy released in 2003, two years after the first movie.