Lord Of The Rings director Peter Jackson is to go down in the record books for being one of the highest paid directors ever.

The New Zealand movie-maker will land a whopping $20 million (GBP12.5 million) for his revamped version of classic 1933 flick KING KONG - a sum of money only equalled by a handful of directors.

The epic Lord of the Rings films - the third of which will be released at the end of this year (03) - have become among the most successful movies of all time, and his blockbuster credentials now put him in the same pay bracket as Hollywood favourites Tom Cruise and Mel Gibson.

Most big money directors collect only a relatively small advance but take a large share of the box office receipts, and from spin-offs such as merchandise.

13/08/2003 00:14