CNN Online just posted a story on Saturday’s Annual Critics’ Choice Awards, where Peter Jackson’s The Lord Of The Rings: The Return Of The King was named best picture, also snagging awards for best director, ensemble cast and composer. The story confirms that Jackson spoke via satellite from his native New Zealand, where he is working right now on an extended version of Return Of The King for home video release later this year.

In related news, a rumor that started at Ain’t It Cool News and was reported by The Digital Bits had New Line, the studio responsible for funding and distributing the Rings films, balking at the cost Weta Digital was asking for to complete the many effects shots that need to be added to the extended cut. Happily, CGNetworks have just posted a new interview with King‘s effects supervisor Joe Letteri, who mentions that Weta Digital is indeed currently working on the effects for the extended edition, so hopefully that rumor about New Line cutting corners will remain exactly that.