Douglas C. Kane, a civil rights attorney and Tolkien scholar better known to readers of TheOneRing.net as Voronwë_the_Faithful, posted an excellent primer and explanation of the real facts and allegations of the ongoing lawsuit between the Tolkien family and New Line. 

The article summarizes the nature of the parties, allegations, and desired results of the lawsuit, explaining legal terms for the lay reader as it goes.  Mr. Kane also makes his own educated predictions as the the likely outcome of the suit.  The verdict?  The case will probably be resolved in mediation and the assorted plaintiffs probably don't have a shot in hell of actually getting the upcoming Hobbit movies shut down.  Read the full text of the article here.

So there it is, fanboys and -girls.  We can all stop our precious hearts a-fluttering, now.

Christopher Tolkien, the son of J.R.R. Tolkien, long rumored to be at philosophical odds with New Line Cinema and the makers of the Lord of the Rings movie franchise, will ask a Californian judge to stop production on the upcoming Hobbit films on June 6 in an effort to secure profits he claims are owed the Tolkien Estate by the production company:

He claims the Tolkien family is owed £80m by New Line Cinema under a deal for a 7.5% share of profits that was signed in 1969, when his father reluctantly sold film rights to pay a tax bill.
...
[A]t a hearing on June 6 Christopher Tolkien will ask a Californian judge to back his claim that he can "terminate" film rights to The Hobbit. He is said to be furious with the New Line studio, which earned £3 billion from the Rings trilogy. Tolkien's lawyers accuse New Line of "accounting chicanery". Warner Bros, owner of New Line, declined to comment.

One thing I've always wondered was whether Christopher Tolkien ever saw the Rings films and, if so, what he thought of them. It seems now that we have something of an answer:

Tolkien Jr, described by his biographer as "cantankerous", is unlikely to allow thefilm-makers free access to The Silmarillion. He has always been sceptical of Hollywood. Even now relatives are unsure whether he has watched The Lord of the Rings, which won a total of 17 Oscars.

The Silmarillion is relevant to the second planned film in the Hobbit film duology, which is said to chronicle the intervening years between Bilbo Baggins's return home to the Shire and the beginning of The Fellowship of the Ring.  Producer Peter Jackson and Director Guillermo del Toro likely plan to draw heavily on the material contained within the final book of The Silmarillion, Of the Rings of Power and the Third Age in order to write and produce the second Hobbit film.

Photo copyright Tolkien Gateway.

Unless you've been living under a rock for the past four days, you've probably heard that Guillermo del Toro, long rumored to be helming the two-film adaptation of J.R.R. Tolkien's classic novel The Hobbit, has been officially announced as Director by New Line Cinema. 

TheOneRing.net, Moste Ancient and Magisterial of All LOTR News Sites, also posted an interview with Del Toro concerning his plans for the films.  Particularly interesting are Del Toro's comments regarding the second film, which is intended to cover the events that occur between The Hobbit and The Fellowship of the Ring:

Fans are all abuzz about 'The Second Film', can you tell some of your plans for it?

GDT: You know, I traveled to New Zealand just a little while ago, and one of the main reasons for going was to sit down and talk about the second film. 'The Hobbit', the book, is really one self-contained film, so for the second movie we sat down and worked it out. When we did this we got really excited because this second film is not a 'tag on', it's not 'filler', it's an integral part of telling the story of those 50 years of history lost in the narrative. There will be certain things that we will see from the first movie but from a different point of view, but it will feel like a volume, in the 5 volumes of the entire story. It will not feel like a bridge, I've been hearing it called 'a bridge film', it's not, it's an integral chapter of the story, and I think we're all on the same page.