Vivendi Universal Games announced a production agreement with Turbine Entertainment to develop Middle-Earth Online, a MMORPG for the PC which the company hopes to launch next year.
The game will be developed as part of VU Games' long-term agreement with Tolkien Enterprises to create games based on Tolkien's novel. (The license to develop games based on the LOTR film trilogy still resides with Electronic Arts; it is a separate license which EA secured from New Line Cinema.)
More information about "Middle-Earth Online" can be found at http://www.lordoftherings.com/meo.