Warner Bros. has announced that a new film set in the Lord of the Rings universe is currently under development in collaboration with talk show host Stephen Colbert and his son, according to the company's official channels.

The film, titled "The Lord of the Rings: Shadows of the Past", will be based on sections of "The Fellowship of the Ring" that were omitted from the 2001 cinematic adaptation.

Colbert, a renowned Tolkien aficionado, told Lord of the Rings director Peter Jackson in a video announcement that the project aims to focus on the first six chapters of the book.

"It is basically the chapters 'Three Is Company' through 'Fog on the Barrow-Downs', and I thought: 'Wait a second, maybe that could be its own story that fits into the larger narrative. Could we create something that is completely faithful to the books while also being completely faithful to the films you have already made?'", Colbert stated.

Colbert is developing the film alongside his son, screenwriter Peter McGee.

Middle-earth Enterprises, a subsidiary of the gaming group Embracer, holds the rights to the Lord of the Rings franchise.