MGM announced on Wednesday [27] it had acquired feature rights to the video game franchise and will produce and develop with GK Films in a move that signals a return to tentpole producing for Graham King.

British super-producer King has lain low following the much publicised over-spend on Hugo. He recently served as executive producer on the best picture Oscar winner Argo and famously won the best picture Oscar for The Departed back in 2007.

King previously acquired the film rights to Tomb Raider in 2011 from interactive entertainment company Square Enix and will produce the reboot with MGM.

“Graham is one of the premier producers in this industry and I am delighted to be working with him on this exciting franchise,” said MGM chairman and CEO Gary Barber. “We look forward to developing more projects together in the future.”

“I am thrilled to partner with Gary and his MGM team on rebooting this successful Tomb Raider film franchise,” said King. “The enthusiasm over the recent game release is very encouraging and we can’t wait to bring it to the big screen.”

Paramount Pictures made two Tomb Raider features based on the video game property in 2011 and 2003 starring Angelina Jolie. The films combined for a $432m worldwide gross.

The GK Films slate includes Jersey Boys, The Battle Of Britain and the untitled Freddie Mercury project.