American Hustle

MGM returns to film distribution with Annapurna partnership

The storied movie studio MGM is getting back into distribution, teaming with Megan Ellison's Annapurna Pictures in a joint venture that could have ramifications for the next James Bond film.

Metro-Goldwyn-Mayer and Annapurna on Tuesday announced a partnership to distribute films in the United States. The move signals growing ambitions for MGM, which was once one of Hollywood's premier brands. After financial struggles, the Beverly Hills, California-based studio, founded in 1924, emerged from bankruptcy protection in 2000 and has since released its films through larger studios.

"The time has come for MGM to regain control of its own destiny and return to U.S....