Mandalay Pictures recently acquired the film rights to Full Metal Panic! Currently, no further details have been announced.

The first two Full Metal Panic! anime series, as well as the first manga series are currently distributed in America by ADV Films. FUNimation holds the rights to the third Full Metal Panic! series, Full Metal Panic! The Second Raid.

Mandalay Pictures was originally founded in 1995 by Peter Guber (A Few Good Men, Groundhog Day). Currently, the studio is a subsidiary of Metro-Goldwyn-Mayer. Mandalay Pictures is best known for producing Sleepy Hollow, I Know What You Did Last Summer, and Into The Blue.