Why HBO passed on the new Lord of the Rings TV show

The network currently has five GoT spin-offs in the works

Amazon picked up a new TV adaptation of J.R.R. Tolkien's The Lord of the Rings recently for an eye-watering reported price tag of $250 million, but HBO didn't even bid for it.

According to Variety, CEO Richard Plepler said this was because it already has a little-known fantasy franchise called Game of Thrones.

The decision was also about truly original content.

"I'd rather own our IP [intellectual property] 100%… and I’d rather have the ability to work with a product that is inextricably linked to our brand," he said, also noting of the $250 million deal: "If I'm Jeff Bezos [Amazon owner], that's Monopoly money."

It makes sense that HBO wouldn't want to bring another fantasy series on board, as it's currently busy choosing between five different Game of Thrones spin-offs that are in development.

Asked what the next big show will be for HBO, Variety reported Plepler as saying it had 'several creative bets' but that it's impossible to predict if a show "will hit the zeitgeist like Sopranos did, like Game of Thrones did."

He did, however, point to the fact that the first season of Westworld averaged around 13 million viewers - double what Game of Thrones managed in its first year.