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Just hearing the tales of illustrators and all the hoops they have to jump through in getting the approval of the Estate on their work, has a chilling effect.
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That's a bit unfair. Naismith etc have said that the rein is in fact quite light- the Estate doesn't want an overemphasis on 'monsters.'
The difficulties you bring up as to involving the Estate in any way as a 'partner' or with 'creative control' are indeed enormous, even insuperable- and Christopher certainly feels that way. Film rights to any of the First Age material will only be sold over his dead body, literally. There is no wiggle-room in that position. From where CRT sits, Art is bloody unlikely* and he doesn't need the Cash. Adam's comments at the book's release party run in the same vein- he wants his gaffer to be remembered as an author, not a first-draft screenwriter.
(Incidentally, CRT is not some reactionary snob who despises "popular culture." In fact he's quite the cinema-goer)
* Face it, any Hollywood attempt at CoH would likely be as big a travesty as Zemeckis' Beowulf, with a hot Grendel's Ma (Angelina Jolie nekkid) attempting to seduce the hero!