Joram at Ringbearer received the following information about George Lucas’s response to the question of Peter Jackson bringing Tolkien’s masterpiece into theaters.
There was a interview with George Lucas in an icelandic newpaper not so long ago
where he was asked about his feelings towards LOTR.
In short he said he was quite curious to see how Peter jackson
and crew would pull it off. Further on he said he was doubtful if it
was possible to put this epic story on the big screen at all and
was very concerned about technical matters. He also said that
ILM were possibly the only company proficient to make the
computer graphics required for a movie of this scale – doubting the
talents of PJ´s computer wizards. Hopefully this will be of interest
– DROME –