On Aug. 31, 1998, Variety reported that New Zealand filmmakers Peter Jackson and Fran Walsh would transform J.R.R. Tolkien’s “Lord of the Rings” trilogy of books into three films. Reporter Benedict Carver added that the books are “a highly prized literary property that has eluded filmmakers for years.”

It was the culmination more than three decades of trying to adapt Tolkien’s work for the screen, after the world of visual effects had finally caught up to the British author’s fantastical storylines.

But three decades before, the Beatles had tried to get a “Lord of the Rings” film off the ground. After playing themselves in “A Hard Day’s Night” and “Help!,” the Fab Four was ready to play fictional characters. Apple Films executive Denis O’Dell spearheaded the hunt for material, and Lennon reportedly loved the idea of “Rings.” Lennon would play Gollum, Paul McCartney would play Frodo, George Harrison would...