It's bye bye Bilbo, as Amazon Studios is packing up shop and moving production for series two of its multi-billion dollar Lord of the Rings series to the United Kingdom.
The government has taken back the extra incentive offer it signed with the tech-giant just a few months ago in response.
It has also dashed hopes the show would create thousands of jobs in the film industry here for many years to come.
Here's political reporter, Katie Scotcher.
