‘Lord of the Rings’ and ‘Tomb Raider’ To Be Spun off Under New Company After Embracer Chair Calls Its IP ‘Among The Most Undervalued in the Industry’

May 20, 2026 1:54am PT ‘Lord of the Rings’ and ‘Tomb Raider’ To Be Spun off Under New Company After Embracer Chair Calls Its IP ‘Among The Most Undervalued in the Industry’

By K.J. Yossman

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K.J. Yossman

@KJYossman

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©New Line Cinema/Courtesy Everett Collection

“Lord of the Rings” owner Embracer is set to spin the Tolkien IP as well as other legacy properties such as “Tomb Raider” into a separate holding company, Fellowship Entertainment, with chair Lars Wingefors calling its assets “among the most undervalued in the industry.”

Fellowship Entertainment is set to be listed on Nasdaq Stockholm in 2027 to time with the company’s “notably stronger product pipeline” that year.

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