SoundtrackNet's Dan Goldwasser had a meeting today, during which a tidbit of information was revealed.
It seems that (according to his sources - which are quite reputable) a composer has been picked to score THE LORD OF THE RINGS trilogy for New Line Cinema.
That composer (a rather unconventional choice indeed) is:
Word is that he has been signed for all three pictures. We are trying to get more confirmation on this, and will keep you all posted.