The Wrap reveals that MGM has lost the right to the Tomb Raider franchise. Based on the hit video game series, Lara Croft was brought back to the big screen in 2018 with a reboot starring Alicia Vikanda. However, the studio only had until May of this year to get cameras rolling on a sequel, and that moment has now long passed.
As a result, Hollywood movie studios have now embarked on something of a bidding war for the IP.
The trade confirms that Vikanda is no longer attached to the property as this next iteration will be a complete reboot. No actor or director is attached at this stage, but the rights have reverted to video game publisher Crystal Dynamics and they're looking to find a new home for the movie franchise alongside Graham King's GK Films.
2018's Tomb Raider earned $275 million at the worldwide box office, but was met with middling reviews. The two movies starring Angelina Jolie were similarly underwhelming, but made a combined total of $432 million.
So, there's success to be found, but clearly not with this current iteration of the franchise. MGM has spent the past few years struggling to make the sequel a reality, with Ben Wheatley (Free Fire) departing the project before Lovecraft Country showrunner Misha Green came on board to write and direct. Both versions fell apart, so we'll never know what might have been.
Embracer acquired Crystal Dynamics earlier this year for $300 million, and a quarterly report noted that the company sees "great potential, not only in sequels, but also in remakes, remasters, spinoffs as well as transmedia projects" for Tomb Raider.
Time will tell what form this Tomb Raider reboot takes, but there's definitely room for a badass female adventurer like this on screen. After all, if Uncharted (a video game franchise that borrowed heavily from this one) can make over $400 million, we don't see why an icon like Lara Croft can't follow suit.
Keep checking back here for the latest on this new Tomb Raider movie.