Stephen Colbert is writing a new Lord of the Rings film that will adapt six chapters from The Fellowship of the Ring that were excluded from Peter Jackson's original film. These sequences detailed the hobbits' journey from the Shire to Bree, but were removed because their meandering, detailed nature—as presented in Tolkien's books—would have significantly slowed the film's narrative momentum.

Whilst original hobbit actors including Elijah Wood appeared in early project listings, Wood has clarified that the production remains in preliminary stages. No casting has been formally confirmed, scripts have not been distributed, and the creative direction is still being developed. The project has not yet reached the point where such commitments would be finalised.