Stephen Colbert's long-gestating "Lord of the Rings" film has reportedly been put on hold following the Paramount-Warner Bros. merger.
According to entertainment reports, David Ellison's newly merged studio has paused development on "The Lord of the Rings: Shadow of the Past," which Colbert spent roughly two years co-writing alongside his son Peter McGee and Philippa Boyens. The reported reason: leadership wants to see how Andy Serkis' "The Hunt for Gollum," due December 17, 2027, performs before committing further, with Ellison said to view the franchise as less profitable than it once was.
Colbert is expected to continue working on script drafts — the pause covers production and pre-production rather than writing, according to the reports.
Warner Bros. pushed back on characterizations of the film as dead, insisting it is "not canceled" and remains "in development" — making this a reported pause, not a confirmed kill.
The story drew extra attention because of Ellison's history with Colbert: the Skydance-Paramount deal was behind the end of Colbert's CBS late-night show, fueling speculation about the relationship between the host and the studio chief.
