Lord of the Rings
Pictured are actors performing a stage rendition on "Lord of the Rings" in London on June 18, 2007.  Getty Images

Another epic fantasy series could soon find itself a television home, as Amazon is reportedly eyeing a television adaptation of J.R.R. Tolkien's fantasy series, "The Lord of the Rings."

According to Variety, Warner Bros. Television and the late author's estate are in talks with Amazon studios to develop a series based on the novels. The report indicates that Amazon CEO Jeff Bezos is personally involved in the negotiations for the series, which are in the very early stages, with no deals officially set.

Both Warner Brothers and the Tolkien estate have reportedly been shopping a series based on the classic fantasy novels—featuring characters like hobbits, wizards and warriors—for a while, and the competition to pick up the series has currently seen Amazon emerge as the frontrunner for it. The attempt to try and successfully win the bid for a potential series is a marked shift for Amazon in terms of the programming it offers, with series like "Transparent" and "Mozart in the Jungle" beginning to take back seat in terms of focus, with a higher priority being places on genre programming that is large-scale and has the potential for a massive international appeal.

A series of that variety is a priority for companies like Amazon due to the wild success HBO found with its own fantasy series adaptation, "Game of Thrones." Taken from George R.R. Martin's "A Song of Ice and Fire" novels, the show has become one of the most popular ones in the world. Netfix, while it hasn't adapted a series like "Thrones" has also found success with its own series "Stranger Things." Amazon has yet to find a similar type of hit that has the same cultural significance as those two shows, according to The Verge.

However, an adaptation of "Lord of the Rings," which found massive critical and financial success when it was adapted into three films from 2001-2003, could give Amazon that chance, because the story is one that can match "Thrones" in terms of the fantasy element. "LOTR" tells the story of Frodo Baggins, a young Hobbit who is tasked to destroy the One Ring in the hopes of saving the world of Middle-earth.

The one potential drawback that could face a "LOTR" series however if that the ending of the series is already known, as Tolkien did finish the novels before he died in 1972. "Thrones" however, which is adapted from Martin's novels, has surpassed his books in terms of on-screen action, and is able to take liberties with the story that may not play out when Martin finally finishes the books. As such, how it ends is still a mystery for fans, which keeps the show relevant even during long absences from television.