MGM plans 007 releases every two years, seeks partnership for Bond 23 in 2012
Skyfall - 04-11-10

The wheels of production are starting to spin up again at Metro-Goldwyn-Mayer, who filed for pre-packaged bankruptcy in Manhattan federal court after rejecting a takeover bid by Lions Gate Entertainment Corp. and billionaire Carl Icahn.

MGM plans to spend as much as $125 million on operations in the next 15 weeks. MGM said it’s has already spent $20 million to fund production of films based on J.R.R. Tolkien’s novel, “The Hobbit,” in a co-production deal with Time Warner Inc.’s New Line Cinema, and may need to spend more. Three films based on “The Lord of the Rings,” the sequel to “Hobbit,” grossed about $3 billion at the box office worldwide, MGM said to Bloomberg.

New James Bond films may be released every second year starting in November 2012, MGM said. It aims to own 50 percent of Bond 23, due out that year, with an equal partner paying all of the production costs, it said. Later Bond movies would be wholly owned and funded by MGM, the company said.

Two potential suitors for Bond 23 financing and distribution are Paramount and Sony.

Spyglass chiefs Gary Barber and Roger Birnbaum, who will be taking charge of production at MGM as part of the restructuring deal, are close to Paramount who co-funded the smash-hit "Star Trek" reboot.

Sony distributed the last two James Bond outings under the agreement reached when the company was part of the consortium that took over MGM in 2005. It now owns a 14% stake. Sony have made it public that they would love to be involved again, but it looks like a bidding war between rival distributors will be taking place before Bond 23 is officially green-lit.

2012 marks the 50th anniversary of the EON Productions series of James Bond films. Assuming Daniel Craig honours his contract for a third film, it would also be the longest gap between Bond movies without a change in the lead role.

Discuss this news here...

 
Earlier Story: Britain and Israel sign filming deal, Bond 23 linked with location

Later Story: Judge approves MGM bankruptcy plan, could be clear in 30 days

This content is maintained by www.mi6-hq.com Content is copyright its respective owners and is published for non profit educational use only. All original content is copyright mi6-hq.com © 2014. MI6 accept no responsibility or give warranty for the accuracy authenticity or correctness of content. James Bond 007 is a registered trademark of DANJAQ, LLC, a Delaware corporation in the United States and/or other countries. Webmasters seeking news syndication or for press contact information - click here.

Not Forgetting James Bond - Syd Cain Autobiography

Latest Headlines


Collecting - 28-07-14
Signed copies of Sir Roger Moore's latest memoirs available for order... Full Story

Actor News - 27-07-14
Bond villain Jonathan Pryce joins 'Game of Thrones' cast... Full Story

Bond News - 26-07-14
'The Secret Service' film more 'fun' than recent Bonds claims its creator... Full Story

Actor News - 25-07-14
Timothy Dalton admits he's not tempted to talk Bond with 007 scribe John Logan... Full Story


Event - 24-07-14
BondStars.com host private signing with 'Goldfinger' stars and Roger Moore... Full Story

Actor News - 23-07-14
Full theatrical trailer drops for Pierce Brosnan's 'November Man'... Full Story


Bond 24 - 23-07-14
Stunt coordinator Gary Powell hints at possible Bond 24 locations... Full Story

Media Alert - 22-07-14
UK TV - 'From Russia With Love' on ITV4, Saturday night... Full Story

Skyfall - 21-07-14
Railways minister explains why 'Skyfall' abandoned India as a location... Full Story

News Archive