writes "This weekend sees the release of The Hunt for Gollum, a Lord of the Rings fan-film. It'll be available on the web for free. The BBC are running an article about the making of the film, with a budget of £3,000 (spent mostly on costumes and make-up). There were 160 contributors involved, many over the internet."
I hope it lives up to the trailer (linked from the BBC story); the finished film is approximately 40 minutes.
memoryhole supplies links to YouTube for both the full trailer
and a second trailer
. Reader jowifi adds a link to NPR's story on the film
, writing, "NPR discussed the legality of this type of creation with EFF lawyer Fred Von Lohman, who said it's not clear if such a production violates the copyright for Tolkien's work."