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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. 

He and wife Fran Walsh own around 60 per cent 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

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. 

Weta, co-founded by Jackson in 1993, created the animated character of Gollum in the Lord of the Rings

It also worked on award-winning TV series Game of Thrones. Unity is a software company behind video games such as 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. 

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