Just to be clear, theres no correlation between Kong and LotR because they share the same director. Sometimes directors have control over their properties but most of the time they dont. King Kong as an IP is owned by Universal Studios even if Walt Disney were to rise from the dead amd write a script based on it. LOTR is not controlled by its director or studio, however. New Line Cinema have distribution rights to the films but the property is still controlled by the Tolkien family. So even if Peter Jackson and New Line Cinema think Universal can hanle the property extremely well, it doesnt really mean anything.