New Lord of the Rings movie takes place after Frodo's death and could feature Tom Bombadil

Now, this is a surprise: a new Lord of the Rings movie is in the works, partly written by talk show host and comedian Stephen Colbert and his screenwriter son, Peter.

As part of Tolkien Reading Day, director Peter Jackson – who helmed the Lord of the Rings and Hobbit trilogies – hopped on social media to not only provide an update on Andy Serkis' The Hunt for Gollum, but also unveil the new chapter in Middle-earth.

Colbert then jumped on the call, outlining the pitch for his Lord of the Rings movie: a deep dive into six chapters of Tolkien's Fellowship of the Ring that were not adapted for the big screen: from the third chapter's Three is Company through to chapter eight's Fog on the Barrow Downs.

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While it's unclear how closely it will follow the text, those chapters largely revolve around Frodo and the Fellowship being hunted by a Barrow-wight, with the group being saved by Tom Bombadil, the seemingly immortal trickster wizard who also appeared in The Rings of Power season 2 (played by Rory Kinnear).

"I thought, ‘Oh, wait, maybe that could be its own story that could fit into the larger story. Could we make something that was completely faithful to the books while also being completely faithful to the movies that you guys had already made?'" Colbert teased of the project, which he's also working on alongside series mainstay Philippa Boyens.

Per the movie's logline, it appears we're getting a glimpse of a post-Return of the King slice of Middle-earth. Tragically, that also means it takes place after Frodo's death.

It reads, "Fourteen years after the passing of Frodo, Sam, Merry and Pippin set out to retrace the first steps of their adventure. Meanwhile, Sam's daughter, Elanor, has discovered a long-buried secret and is determined to uncover why the War of the Ring was very nearly lost before it even began."

Colbert's curious mention of a "framing device" suggests to me that everything that picks up with the remnants of the Fellowship will be used to flashback to one of Frodo's most perilous steps on his long journey to Mount Doom – with a dash of Tom Bombadil thrown in for good measure.

First up, though, is The Hunt for Gollum, which sees the return of Andy Serkis' iconic motion-captured character. Ian McKellen and Elijah Wood are rumored to reprise their roles as Gandalf and Frodo respectively.

Jackson said of the release, set for December 17, 2027, "It’s looking amazing. The script is coming together really well and I think it's going to be a really good film."

For more, check out the latest on The Rings of Power season 3, plus all the new movie release dates you still have to look forward to.