JJB directed me to some news posted at LOTRGuide:
The Epic Scale Balrog
This extremely detailed Balrog will be 22 inches from head to toe and over 2 feet with it's arm raised. It will have both it's weapons, a flaming sword and whip, as well as articulation. As if that wasn't enough, the current plan calls for it to have electronic light up eyes and flames with motion activated sound. It's expected to retail for around $50 and should be out in July but pictures could be available as soon as April. To give you a taste of what kind of detail we can expect in this Balrog, just checkout NECA's previously released Balrog Votive holder. http://22.214.171.124/photos2/data/628/1balrog.jpg
Randy from Action figure times said this:
"I saw a picture of the unpainted prototype in comparison with one of the LOTR figures and it looks amazing! I can't wait to see it painted up!
I don't think they'll be doing a Fell Beast as Toy Biz is going ahead with one for later this year."
(mike begins to salivate) Thank you, NECA!!