That sounds awesome, actually. Though my favourite Middle Earth stories are still those that take place during the first age. I also quite like the ones that take place during the third age, the story of the coming of the Rohirrim from the North into Rohan, in Unfinished Tales (about 500 years before Lord of the Rings), was a really good one.
I would love for Peter Jackson, or anyone, to start adapting plotlines from The Lost Tales/Silmarillion into movies. I think that most people would be familiar with the story of Beren and Luthien for it to be a large success in theatres. Of course, The Hobbit would be a much bigger success. The story was quite a good one. Most people just know the part about how Luthien gave up her immortality to be with Beren; the story goes quite a bit deeper than that. It is quite a dark story, for the most of it, but it does possess a significant portion which is not as dark.
Now the opening to this movie could be quite spectacular. The story really begins with a battle called The Battle of Sudden Flame. Morgoth, the dark Lord, breaks through the siege and destroys most of the Northern Kingdoms of Elves and men. There is an epic battle between the High King of the Elves, Fingolfin, and Morgoth. Beren himself is one of the last survivors of the Northern Kingdom of Dorthonion. The rest of the Kingdom was over-run, the survivors live as fugitives, hunted by headhunters of Morgoth. That is how it begins.
The last surviving Northern Kingdom of men was Dor Lomin. The heir of that Kingdom was another famous Middle Earth character by the name of Turin Turambar (The Master of Fate), mightiest of all humans to ever set foot upon middle earth (well, with the exception of his father Hurin). His story would make a great second movie if they could not somehow incorporate it in with Beren's story.
Yes, I have thought A LOT about this over the years =)
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