An investor call Thursday by Warner Bros. Discovery revealed that there will soon be new Lord of the Rings movies.

Warner Bros. and New Line have signed a lengthy contract with Swedish Embracer Group AB, allowing them to produce more adaptations of 'Lord of the Rings' and 'The Hobbit.' In the call, CEO David Zaslav declared that the deal contains "multiple" films based on J.R.R. Tolkien's series.

According to Warner Bros. Pictures executives Michael De Luca and Pam Abdy, two decades ago New Line made a courageous decision to bring 'The Lord of the Rings' to the silver screen. This ended up creating a set of films that have been greatly appreciated. Even though the two trilogies were full of detail and intricacy, J.R.R. Tolkien's expansive and entrancing universe has not yet been entirely explored in cinema. They are therefore pleased to team up with Middle-earth Enterprises and Embracer to give fans a chance to go deeper into the cinematic world of Middle-earth.

Peter Jackson's first series of movies was a massive success for WB and New Line, as it amassed close to $3 billion between 2001-2003. It also made Academy Award history, earning a total of 17 Oscars, the pinnacle being the Best Picture prize for 'Return of the King.'

Meanwhile, ​Warner Bros. is already working on a 'Lord of the Rings' project. 'The Lord of the Rings: The War of the Rohirrim', a prequel in animated form, is slated for a 2024 release, with voice performances from Brian Cox and Miranda Otto, among others.