(FROM AP) – The estate of J.R.R. Tolkien, author of The Hobbit and Lord of the Rings, is suing New Line Cinema, claiming that the studio still owes a share of the profits from the three LOTR movies. Tolkien’s estate filed a suit in Los Angeles Superior Court on Monday (Feb. 11), claiming that New Line was required to pay 7.5 percent of gross receipts from the three films, which grossed nearly $6 billion combined worldwide, according to the complaint. The suit seeks more than $150 million in damages, as well as a court order that would give the Tolkien estate the right to terminate any rights New Line may have to make films based on other works by the author. That order could potentially spell trouble for the studio’s plans to develop two movies based on Tolkien’s The Hobbit. Peter Jackson is already on board as executive producer for the projects, which are scheduled to begin production next year for release in 2010 and 2011. (AP via Yahoo!)