Lord of the Rings director Peter Jackson to scoop £700m from sale of his visual effects studio

Lord of the Rings director Peter Jackson and his wife could scoop £700million from the sale of part of his visual effects studio. 

The Oscar winner, 60, has struck a £1.2billion deal to sell the technology and engineering arm of Weta Digital to US group Unity. 

Fran Walsh, his wife, owns around 60% of Weta Digital. Assuming they own the same share of the division being sold, they could make around £700million. 

Precious: Effects studio Weta, co-funded by Jackson in 1993, created the animated character of Gollum in the Lord of the Rings. It has now been sold for £1.2bn

Jackson funded the Precious Effects Studio Weta which created the animated Gollum from the Lord of the Rings. It has now been sold for £1.2bn

New Zealander Jackson struck gold with his adaptation of JRR Tolkien’s Lord of the Rings books. 

The films raked in £2.2billion worldwide and the final film in the trilogy, The Return of the King, won 11 Oscars. 

Jackson co-founded Weta in 1993. She created the animated Gollum character in Lord of the Rings.

The company also contributed to the award-winning television series Game of Thrones. Unity Software is behind Call of Duty: Mobile. 

It wants to use Weta Digital’s expertise to develop the ‘metaverse’ that makes virtual experiences such as attending an online concert feel like a face-to-face event. 

It will take on Weta Digital’s 275 employees.