Founded by former MGM CEO Gary Barber and Annapurna founder Megan Ellison on October 31, 2017,[2] it operated within the offices of the headquarters of the respective companies in West Hollywood and Los Angeles in California and offered alternative services to the major film studios and streaming media companies[3] with 10–14 films released annually.

[4] Former Screen Gems executive Pam Kunath was appointed to be its chief operating officer and one of MGM's subsidiaries, Orion Pictures, added its films and staff from its distribution division to the venture.

[9][10] A week later, the proposed acquisition by Amazon was officially announced, pending local and global regulatory approvals, for $8.45 billion[5] and completed on March 17, 2022.

[6] Later that same day, Mike Hopkins, senior vice president of Amazon Studios and Amazon Prime Video, emphasized at a town hall meeting that his company will continue to partner with its new division United Artists Releasing, which will remain in operation post-acquisition.

The announcement was on the same day Creed III was released, which is also the first film distributed by MGM itself under Amazon's ownership.