In 1969, the rights were passed to United Artists, where an "elegant" Peter Shaffer script was abandoned.
Denis O'Dell was interested in producing a film for The Beatles, and approached directors David Lean (busy with Ryan's Daughter), Stanley Kubrick (who deemed it "unfilmable") and Michaelangelo Antonioni. John Boorman was commissioned to write a script in late 1969, but it was deemed too expensive in 1970.[2]
Bakshi approached United Artists when he learned (from a 1974 issue of Variety) that Boorman's script was abandoned. Learning that Boorman intended to produce all three parts of The Lord of the Rings as a single film, Bakshi commented, "I thought that was madness, certainly a lack of character on Boorman's part. Why would you want to tamper with anything Tolkien did?" Bakshi began making a "yearly trek" to United Artists. Bakshi had since achieved box office success producing adult-oriented animated films such as Fritz the Cat but his recent film, Coonskin, tanked, and he later clarified that he thought The Lord of the Rings could "make some money" so as to save his studio.
In 1975, Bakshi convinced United Artists executive Mike Medavoy to produce The Lord of the Rings as two or three animated films, and a Hobbit prequel. Medavoy offered him Boorman's script, which Bakshi refused, saying that Boorman "didn't understand it" and that his script would have made for a cheap film like "a Roger Corman film".[16] Medavoy accepted Bakshi's proposal to "do the books as close as we can, using Tolkien's exact dialogue and scenes".
Although he was later keen to regroup with Boorman for his script (and his surrogate project, Excalibur), Bakshi claimed Medavoy didn't want to produce his film at the time, but allowed him to shop it around if he could get another studio to pay for the expenses on Boorman's script. Bakshi attempted unsuccessfully to persuade Peter Bogdanovich to take on the project, but managed to gain the support of the then president of MGM Dan Melnick. Bakshi and Melnick made a deal with Mike Medavoy at United Artists to buy the Boorman script. Bakshi said later that "The Boorman script cost $3 million, so Boorman was happy by the pool, screaming and laughing and drinking, 'cause he got $3 million for his script to be thrown out." Boorman, however, was unhappy with the project going to animation after Tolkien once wrote to him, pleased that he was doing it in live-action. He never saw Bakshi's film, and after it was released, tried to remake his live-action version with Medavoy.[17]
Work began on scripts and storyboards. When Melnick was fired from MGM in 1976, Bakshi's studio had spent between $200,000 and $600,000. The new executive Dick Shepherd hadn't read the books and, according to Bakshi, did not want to make the movie;[16] Shepherd obliviously asked whether The Lord of the Rings was about a wedding. Bakshi then contacted Saul Zaentz (who had helped finance Fritz the Cat), asking him to produce The Lord of the Rings; Zaentz agreed.[11]
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Cancelled sequels
The film was originally intended to be distributed as The Lord of the Rings Part I. Initially a trilogy was planned, but this was revised to two planned films because of the limited budget. Arthur Krim resigned from United Artists and was replaced by Andy Albeck. According to Bakshi, when he completed the film, United Artists executives told him that they were planning to release the film without indicating that a sequel would follow, because they felt that audiences would not pay to see half of a film. Bakshi stated that he strongly opposed this, and agreed with the shocked viewers who complained that the film was unfinished. In his view, "Had it said 'Part One,' I think everyone would have respected it."
Although UA found that the film, while financially successful, "failed to overwhelm audiences", Bakshi did begin working on a sequel, and even had some B-roll footage shot. The Film Book of J.R.R. Tolkien's the Lord of the Rings, published by Ballantine Books on October 12, 1978, still referred to the sequel in the book's inside cover jacket. Indeed, in interviews Bakshi talked about doing "a part two film picking up where this leaves off", and even boasted that the second film could "pick up on sequences that we missed in the first book". Zaentz went so far as to try to stop the Rankin-Bass The Return of the King TV special (which was already storyboarded before Bakshi's film came out) from airing, so as to not clash with Bakshi's sequel
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Reception
Box office, awards, and nominations
The Lord of the Rings was a financial success. Reports of the budget vary from $4 to $8 million, and as high as $12 million, while the film grossed $30.5 million at the United States and Canadian box office. It thus made a profit, having kept its costs low. In the United Kingdom, the film grossed over $3.2 million.
Despite this, the reaction from fans was hostile; Jerry Beck writes that they "intensely dislike[d]" the film's "cheap-looking effects and the missing ending", having been misled by the title to expect the film to cover the whole of the book.