First announced by Jackson via video in late March, Colbert’s new “Lord of the Rings” installment will follow Andy Serkis’ “The Hunt for Gollum” and currently has the working title “The Lord of the Rings: Shadows of the Past.”

Written by Colbert, his son Peter McGee and Boyens, the film’s official logline 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.”

Peter Jackson Says Stephen Colbert Pitched His ‘Lord of the Rings’ Movie Before CBS Canceled ‘The Late Show’ and They’ve Already Spent One Year Working on It

Market resolves when the movie is first available in theaters to the public. Resolves N/A if the project is cancelled.

Peter Jackson Says Stephen Colbert Pitched His ‘Lord of the Rings’ Movie Before CBS Canceled ‘The Late Show’ and They’ve Already Spent One Year Working on It

Peter Jackson says he's been working on the treatment for Stephen Colbert's 'Lord of the Rings' movie for a full year already.