It marks a new chapter for Colbert, a noted devotee of J.R.R. Tolkien’s fictional world of Middle-earth. Colbert appears in the video alongside Peter Jackson, the New Zealand-born filmmaker who ​directed the original “Lord of the Rings” trilogy that was a critical and commercial ​smash.

The film’s current working title is “Lord of the Rings: Shadow of the ⁠Past,” according to a press release. A director has not been announced.

“I’m pretty happy about ​it,” Colbert says to Jackson in the clip. “You know what the books mean to me ​and what your films mean to me.”

Colbert will develop the film with his son, screenwriter Peter McGee, and Philippa Boyens, one of the original trilogy’s screenwriters.

The project will be the second of two upcoming “Lord of the ​Rings” films currently in development at Warner Bros Discovery and New Line Cinema. The ​first, “The Lord of the Rings: The Hunt for Gollum,” is currently in pre-production.

Tolkein’s epic fantasy was published in ‌three ⁠parts in 1954 and 1955 in the UK. It remains one of fantasy’s most popular stories and one of the best-selling novels ever written.

Jackson’s trilogy grossed more than $2.9 billion worldwide, and 2003’s third instalment, “The Lord of the Rings: The Return of the King,” won numerous accolades, ​including the Academy Award ​for best picture. ⁠

He followed a decade later with a trilogy of prequels based on Tolkien’s 1937 novel, “The Hobbit.”

CBS announced in July 2025 that it would ​cancel the Emmy‑winning “The Late Show with Stephen Colbert,” the most-watched late-night ​program on US ⁠broadcast television and a frequent platform for satire aimed at President Donald Trump, who has criticised the network and other late-night hosts for their humour targeting him.

On February 27, Paramount Skydance, ⁠the parent ​of CBS, signed a $110 billion deal to buy Warner ​Bros Discovery that will bring together numerous studio assets and Warner Bros’ library of film franchises, including Harry Potter, ​The Lord of the Rings and Superman.