For a moment, it seemed like James Bond had become the enemy of the people. I’m February, Amazon MGM Studios announced it had acquired the character's rights from the Broccoli family of producers, who had overseen the superspy for most the hero's cinematic lifespan.

On Wednesday, Amazon MGM Studio announced that Denis Villeneuve will direct the 26th Bond movie, putting the franchise in the hands of one of the most respected big-budget filmmakers. Here's what to know about that decision, and where things stand for 007.