I think they will go for a similar layout to IOA. It will have it's own icon with the lands surrounding a hub or lagoon. Like
@ChuggLyfe has said above, no IP should ever be an icon.
I honestly can't see LOTR going any where but Universal. J.R.R. hated Disney with a passion and Warners has the great track record with Universal and Potter. The only other big theme park companies are: Merlin, Six Flags or SeaWorld and I don't think they have the ambition, resources or track record to do the IP justice.
The only way I can see it going else where is if Merlin buy SeaWorld and spend an obscene amount of money to try and compete with Disney and Universal but it's a huge risk.