The live-action "Lord of the Rings" film series was undoubtedly one of history's most successful and ambitious. It was released from 2001 to 2003 by New Line Cinema, which has since merged with Warner Bros. Heaps of accolades and profits would be heaved in its direction. The Movies, of course, were inspired by British author J.R.R. Tolkien's novels.

Other projects set in the Middle-earth universe have followed over the years since then. Including another high-profile series of cinematic releases. And a television series of which the official relationship with the movies is a bit murky.

At the very least, in large part because of copyright law. It had already been announced that more would be forthcoming on television. And now it also looks to be the same for the cinematic realm.

Warner Bros. is developing new Middle-earth movies

Variety reports that live-action movies set in the "Lord of the Rings" world are on the way. An animated picture, "The Lord of the Rings: The War of the Rohirrim," is already in the works. That movie's cast includes Brian Cox and Miranda Otto. Otto is returning in her role as Eowyn from the earlier live-action installments. It's currently scheduled to hit theaters in 2024.

But it looks like there's also more underway. Yahoo indicates the new movies are expected to be set in the franchise's 'Third Age' period.

Which could mean some of its most recognizable characters could be making a return.

Last year's "The Lord of the Rings: The Rings of Power," released via Amazon Prime Video, was set in the Second Age. Again, legal matters have thus far kept it somewhat distanced from the movies, and drastically earlier periods meant many different settings and names.

But some familiar characters, such as Galadriel and Elrond, were still in the mix. Albeit portrayed with a diverse cast.

Even if already-established characters come back, it's unclear if the same cast would return. Similar to the production team that successfully helped bring the earlier films to life. Namely Peter Jackson, Fran Walsh and Philippa Boyens.

The trio said they've been kept "in the loop" about recent goings-on. They "look forward with [Warner Bros.] further to hear their vision for the franchise moving forward."

Jackson stated he was approached about working on "The Rings of Power." But Amazon later didn't follow up on their inquiry.

The franchise has 17 Academy Awards to its name

The 2000s "Lord of the Rings" series would win several prestigious accolades. Including the Academy Award for Best Picture for 2003's "The Lord of the Rings: The Return of the King." The Film also won similar recognition from the Golden Globes Awards and the BAFTAs. The latter followed an earlier Best Film win for "The Lord of the Rings: The Fellowship of the Ring."

From 2012 to 2014, the prequel "Hobbit" films premiered in cinemas.

Jackson, Walsh and Boyens also spearheaded the series. The movies were also critically and commercially successful. "The Hobbit: An Unexpected Journey," the first installment, received a special Academy Award for its scientific and engineering achievements.