Do They Have Full Rights to the Hobbit and the Trees of Valnor?

Show runners said that they have access to the hobbit and the lord of the rings. They didn't specify appendices versus non appendices, so i'm a little uncertain what exactly that means. I'd like to think it means that they have o get case by case approval for certain things. Ultimately, we just don't know. To me though, i'm still kind of hinging on this idea that they're going to write the novel toee. That's a very high bar, man. It's going to be tough.