At this point, we're probably not going to hear anything about Tolkien unless an insider spills the beans; none of the parties involved will comment until they have an actual contract in place and are ready for a grand announcement roughly 3 years before opening Tolkien lands (similar to the grand announcement for Harry Potter).
I would expect Tolkien to appear in both IoA and the 3rd dry park as
@fryoj mentioned; it can provide a strong anchor in IoA to match SNW going to USF, and there are so many renowned Tolkien regions that it makes sense to put it in two parks.