What happened to The White Council, the cancelled Lord of the Rings RPG?

The Lord of the Rings: The White Council is an unreleased role-playing game that started development at EA Redwood Shores, the studio behind The Return of the King and The Third Age. Its working title was Project Gray Company. Announced on July 13, 2006, it targeted Microsoft Windows, PlayStation 3, and Xbox 360 for late 2007, and was to be based on both Tolkien's books and Jackson's films, which EA could do because, as the announcement itself noted, EA by then held the game licenses to both.
It was the most ambitious pitch EA ever made for Middle-earth: a massive open world RPG. Contemporary reporting from GameSpot's July 2006 first look put the setting approximately 80 years before the War of the Ring seen in Jackson's movies, a choice the report said freed up the narrative so players could create their own characters and tell their own stories, with the ultimate aim of becoming a hero allied with the White Council. That 80 year figure is a contemporary reporting claim from the announcement coverage, and the page presents it as such.
Then, on February 2, 2007, EA announced the game had been put on an indefinite hiatus, and no further information has ever been released. EA never used the word cancelled. The developers who built it did, later: in interviews published in 2020, the people quoted below describe a project that was effectively cancelled inside a restructuring company, killed by cost, scope, a console transition, and a license that was running out.
There is no disc, no demo, and no revival to wait for. The White Council exists only as announcement art, a designer's diary, and interviews with the team that made it for about two years. It is the one game in this wing of the Library that no collector can ever own.