I think that remaking LOTR would be like remaking Star Wars, and I hope that neither is ever done. Then again, who would've thought they'd remake Charlie and the Chocolate Factory? Usually, when a movie is as popular as that you wouldn't think it would be remade... but who knows... who knows.
I think it's more likely for a movie remake to be done if it starts out as an original screenplay and not a book... or, if the director is just positive that his new version will surpass the old one. But, I don't think anyone would tackle remaking a trilogy. A single film remake is not as much of a risk for a studio to take.
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