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.

Denis Villeneuve is going from Dune to 007. The filmmaker has been tapped to direct the next James Bond movie, the first from AmazonMGM. Tanya Lapointe, Villeneuve’s artistic partner and wife, will serve as an executive produver. As previously announced, Amy Pascal and David Heyman will serve as producers.

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.