Embracer Group buys Rights to Lord of the Rings and Tolkien-related Intellectual Property
I'm not going to pretend to understand fully the history of the movie rights, but it seems clear enough from this article that they're being sold from Saul Zaentz et al to a new company, based in Sweden, who (naturally) have big plans for them.
I would assume, with so much money outlaid (6 billion Swedish krona, per the article) that they have some legal ground for their plans to explore “additional movies based on iconic characters such as Gandalf, Aragorn, Gollum, Galadriel, Éowyn and other characters from the literary works of J.R.R. Tolkien.”
I'm not quite sure I relish seeing what they do, but it's undoubtedly news. How this affects the Rings of Power project, if at all, I am not qualified to guess.