LotR: The Musical
You think I'm joking, but no: "Producers are planning to turn the [books] into the most expensive musical ever seen in London." The musical will be "a mammoth three and a half hours" long. The article fails to mention that that's only about a third of the running time of the movies. I wonder what two-thirds of the story they'll cut.
I found this in a Slashdot article; some of the comments are fun, too, though I recommend reading them at a threshold filter of 5.