According to Variety, movie rights to Conan the Barbarian have been picked up by New Line Cinema after rights holder Paradox Entertainment declined to extend an agreement with Warner Brothers. The Conan property drew interest from several studios and production companies, with renewed attention attributed to the success of 300.
Warner Brothers reportedly spent the last seven years wrestling with how to produce a film that more closely followed the original fiction than the two Schwarzenegger films from the early 80s. Paradox extended the rights agreement three times during that period but declined a fourth extension.
Paradox Entertainment owns rights to all of Conan creator Robert E. Howard's catalog (see 'Paradox Picks Up Kull & Co.')