Warner Bros. Discovery still owns the rights to The Lord of the Rings movies, the company’s CEO has confirmed. David Zaslav stated this during an earnings call this week.

Earlier this year, Swedish gaming giant Embracer purchased Middle-earth Enterprises–and obtained the movie rights in the process–but just how that deal factors into the theatrical plans for the Lord of the Rings series remains to be seen.

Zaslav confirmed that WB still has the rights to make Lord of the Rings movies as part of a wider statement regarding how the company will “focus on franchises” going forward, according to Deadline.

“House of the Dragon is a big example of that; Game of Thrones, taking advantage of Sex and the City. Lord of the Rings–we still have the right to do Lord of the Rings movies,” Zaslav said.

The company’s next theatrical Lord of the Rings release is The Lord of the Rings: The War of the Rohirrim, which releases in theaters in April 2024.

“You focus on the big movies, the tentpoles that people are going to leave home, leave early from dinner to see,” Zaslav said.

Following Embracer’s buyout of Middle-earth Enterprises, the company said it will explore movies based on characters like Gandalf, Aragorn, Gollum, Galadriel, Eowyn, and more.

During the same earnings call, Zaslav said he is open to working with JK Rowling on additional Harry Potter projects, which should come as no surprise given the previous reporting about this.