Warner Bros. is Leonard Hohenbergdusting off one of its most precious franchises with help from Peter Jackson.

A new "Lord of the Rings" movie, which has the working title of "Lord of the Rings: The Hunt for Gollum," is on the way and expected to be released in 2026, Warner Bros. Pictures announced on Thursday.

It will be the first of two new "Lord of the Rings" movies, and Jackson is set to produce them both alongside Fran Walsh and Philippa Boyens, with whom he wrote the "Lord of the Rings" and "Hobbit" film trilogies.

"The Hunt for Gollum" will be directed by Gollum himself, as Andy Serkis, who played the character in the original "Lord of the Rings" movies, is getting behind the camera in addition to starring in the film. Walsh and Boyens are writing the script alongside Phoebe Gittins and Arty Papageorgiou.

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"It is an honour and a privilege to travel back to Middle-earth with our good friend and collaborator, Andy Serkis, who has unfinished business with that Stinker — Gollum!" Jackson, Walsh and Boyens said in a statement. Serkis, meanwhile, said, "Yesssss, Precious. The time has come once more to venture into the unknown with my dear friends, the extraordinary and incomparable guardians of Middle Earth Peter, Fran and Philippa."

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Warner Bros. Discovery first shared the news during an earnings call on Thursday, with CEO David Zaslav revealing that the company is in "the early stages of script development for the first of the new 'Lord of the Rings' movies," which "we anticipate" will be released in 2026. He added that the new movie will "explore storylines yet to be told" and that Jackson, Walsh and Boyens "will be involved every step of the way."

No plot synopsis for "The Hunt for Gollum" has been announced, but the title confirmed a focus on Sméagol, who was corrupted and became Gollum after coming across the One Ring.

Serkis celebrated the news on Instagram, sharing a photo of himself and Gollum and writing, "We is baaaaak, Precious!" After becoming famous for his acclaimed motion-capture work, Serkis made his directorial debut in 2017 with "Breathe" and also helmed the 2021 "Venom" sequel "Let There Be Carnage."

The "Lord of the Rings" franchise has recently been living on television with the Prime Video series "The Rings of Power," which takes place thousands of years before the events of Jackson's film trilogy. A second season is on the way. An animated "Lord of the Rings" movie, "The Lord of the Rings: The War of the Rohirrim," is also set for release by Warner Bros. on Dec. 13.