MGM has returned the rights to producer Graham King and his GK Films after owning the IP for nine years. Lead star of the 2018 reboot, Alicia Vikander, is also expected to be recast. The Wrap first reported the news. Opening bids for the rights have spurred a bidding war since last week, with studios and streamers looking to acquire the adventure IP based on the 1996 videogame series of the same name. Angelina Jolie starred in previously Paramount’s “Lara Croft: Tomb Raider” in 2001 and sequel “Lara Croft Tomb Raider: The Cradle of Life” in 2003. Vikander led MGM and GK Films’ reboot “Tomb Raider,” which earned $275 million worldwide and was slated to have a sequel helmed by “Lovecraft Country” creator Misha Green.

Now, that planned sequel is scrapped, per The Wrap, and Vikander will exit the franchise for yet another reboot in the works. Highlights from the MGM catalog include “Basic Instinct,” “Legally Blonde,” “Moonstruck,” “Poltergeist,” “Raging Bull,” “The Silence of the Lambs,” “Thelma & Louise,” “Tomb Raider,” and “12 Angry Men.” For TV, the studio produced “Fargo,” “The Handmaid’s Tale,” and “Vikings.” Sign Up: Stay on top of the latest breaking film and TV news! Sign up for our Email Newsletters here.