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Well, IANAL applies here, but it looks to me like The Hobbit will head into the public domain sometime around 2032, which is really no time at all from an Elvish point of view. Although it should be noted, that's the original version of the story, before the ring became the Ring. The second edition was published in 1951, I believe, so 1951 + 95 years equals around the time when I will be relocating to a far green shore, so...
It looks like you're stuck with Jackson for a while.
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