<P> Released on 17 December 2003, The Lord of the Rings: The Return of the King received widespread acclaim and became one of the most critically and commercially successful films of all time . It was the second film to gross $1 billion worldwide ($1.12 billion), becoming the highest - grossing film released by New Line Cinema, as well as the biggest financial success for Time Warner in general at the time . The film was the highest - grossing film of 2003 and, by the end of its theatrical run, the second highest - grossing film in history . As of May 2017, it is the sixteenth highest - grossing film of all time . </P> <P> At the 76th Academy Awards, it won all 11 Academy Awards for which it was nominated, therefore holding the record for highest Oscar sweep . The wins included the awards for Best Picture, the first and only time a fantasy film has done so; it was also the second sequel to win a Best Picture Oscar (following The Godfather Part II) and Best Director . The film jointly holds the record for the largest number of Academy Awards won with Ben - Hur (1959) and Titanic (1997). The film has been re-released twice, in 2011 and 2017 . </P> <P> Many years ago, two Hobbits, Smeagol and Déagol, are playfully fishing when Déagol discovers the One Ring beneath the river . The two quickly begin to fight over the ring, and Smeagol kills his friend . Retreating into the mountains, Smeagol gradually becomes an animalistic creature called Gollum, forgetting his old identity and becoming obsessed with the ring . </P> <P> Gandalf leads Aragorn, Legolas, Gimli, and King Théoden to Isengard where they reunite with Merry and Pippin . With Saruman defeated, Gandalf retrieves Saruman's palantír . Pippin later steals a glance into the seeing - stone, and suffers a mental attack from Sauron himself . Gandalf deduces that Sauron will attack Gondor's capital Minas Tirith . He rides there to warn them, taking Pippin with him because Sauron believes Pippin is the ring bearer . </P>

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