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LOS ANGELES — MGM has agreed to allow New Line Cinema to parody its James Bond film “Goldfinger” in the title of the new “Austin Powers” sequel. 

In January, MGM successfully petitioned the Motion Picture Association of America to ban the suggestive name of the summer comedy “Austin Powers in Goldmember,” saying it infringed on the title of its 1964 Bond thriller. Both studios reached an agreement Thursday to allow the title. 

Part of the deal stipulated that “any future titles that may be construed as parodies of James Bond titles will be subject to MGM’s approval,” according to a joint statement from the studios. 

New Line’s 1999 sequel “Austin Powers: The Spy Who Shagged Me,” was a parody of the 1977 Bond film “The Spy Who Loved Me.” 

The Hollywood trade publication Variety reported Tuesday that MGM was negotiating to place an ad for the upcoming Bond adventure “Die Another Day” before the “Austin Powers” film and New Line’s “Lord of the Rings” film. Both studios, however, refused to confirm whether that was part of the final agreement. 

“Austin Powers in Goldmember” debuts July 26. It stars Mike Myers as a toothy, flower-child secret agent and co-stars Destiny’s Child singer Beyonce Knowles as his lover, Foxy Cleopatra. Myers also plays several bad guys, including hairless schemer Dr. Evil and the new villain, Goldmember.