“He said it was and they’d been thinking of talking to (director) Stanley Kubrick about it. It was something John (Lennon) was driving and (Rings author) JRR Tolkien still had the film rights at that stage but he didn’t like the idea of the Beatles doing it. So he killed it.“

Jackson understood that Sir Paul was going to be Frodo, Lennon Gollum, George Harrison Gandalf and Ringo Starr would play Sam. “There probably would’ve been some good songs coming off the album.“

Jackson said he was pleased to arrive back in New Zealand yesterday after the Oscars in which The Fellowship Of The Ring picked up four awards. Now he wants to concentrate on post-production work on the next Rings film, The Two Towers, due out in December.

Jackson revealed it was likely Wellington would next year get the world premiere for the third Rings film, The Return Of The King. “I had more discussions with (Rings backer) New Line (Cinema) about that . . . they have already signed off on the idea.“

Despite personally missing out at the Oscars, Jackson said he was still motivated to make the best films possible and The Two Towers would have a “smoother flowing story“ than The Fellowship Of The Ring.