Amazon acquired the rights to make a TV series based on J.R.R. Tolkien’s The Lord of the Rings book trilogy last year. At the time, not much was known about how the series would tackle the material. Now that details of the series are coming out, The Hollywood Reporter has revealed Amazon may incorporate elements from Peter Jackson’s Lord of the Rings and Hobbit trilogies.

Along with acquiring the rights to the books, Amazon has also engaged in talks with Warner Bros. to acquire the rights to use material from the two Peter Jackson trilogies. The move ensures that Amazon is not thinking about starting from scratch with its Lord of the Rings series. It will instead use the known property to catapult the series it hopes is the next Game of Thrones.

There is even talk about Peter Jackson joining the fray as an executive producer, but nothing is definitive at the moment. His attorney has already talked with Amazon about a possible role for the Academy Award-winning director overseeing the anticipated series.

The Hollywood Reporter pegs the final price of the entire Lord of the Rings series (across five seasons) at $1 billion for Amazon. Netflix, Apple, and HBO have spent billions of dollars to create tentpole content – Amazon is trying to do the same.

The series is expected to go into production “within the next two years.”