Actually the HD releases did not happen as soon as some would have liked because Jackson had a lawsuit against newline over the dvd sales royalties and airing on television and what not. That case has since been settlled and the Hobbit Films production is moving forward. Yet New Line and Sael Zaentz Never payed the Tolkien Estate their royalties that were due. Manches and Co has been pursuing a lawsuit in the British Court system to get the tolkien rights back from Tolkien Enterprises owned by Saul Z obviously and has nothing to do with Christopher Tolkien or J.r.r. tolkien's heirs.
If the rights revert to Christopher Tolkien not only will the 2 hobbit films never get made. But their will be no more home video releases on blu ray or dvd of a trilogy that was produced in Breech of contract with the story authors heirs.
If the Estate receives their money their should be no foul right?
But in this case Christopher Tolkien did not like the artistic License Jackson and New Line made to his fathers books. He believes they were butchered.
Amazingly enough Simon Tolkien, Christopher Tolkiens eldest son from a previous marriage who never talks to his father and has a strained relationship with him Is one of Jackson's supporters and thinks Jackson kept the heart of his Grandfathers tales intact.
Turns out that The Silmarillion and all its parts have been protected by being sullied by Hollywood. These works are protected except for the bare mention of them in the LotR, or the Hobbit plot,or lotr appendices.
Now i believe Christopher Tolkien has always been against his Fathers sale of the Rights to the Hobbit and Lord of the Rings, since his father could not have predicted fifty some odd years after publishing the book it would make billions of dollars for a film studio at the expense of the Books being sullied.
Tolkien's Master work that was the work of his heart was the Silmarillion and remains Unfinished, Lord of the Rings has become known as his Master work because it was finished and published and remains Consistant, mostly between its different parts. Only certain little odd things remain in the final book that the average reader would miss like remnents of discarded drafts. The beginning being mostly Light hearted and clearly a sequel to the hobbit still remains into the book.