James Bond is Postponed Indefinitely

Digital image. Peter Morgan To Help Write ‘Bond 23′. Cinemafique, 12 June 2009. Web. 11 May 2010. .

The popular James Bond franchise’s upcoming film has been delayed due to financial issues at Metro-Goldwyn-Meyer, Inc. (MGM). According to the New York Times article, “In Hollywood, Grappling With Studios’ Lost Clout,” MGM is "now owned by a consortium that includes Sony, Comcast and the investment firms Providence Equity Partners and TPG."  However, since MGM's large amount of debt has not yet been alleviated, its assets were put up for auction back in January of this year. The bids by interested companies, such as Time Warner and Lionsgate Entertainment, have thus far been around $2 billion or less—not nearly enough for MGM, which was bought for approximately $5 billion in 2004.  As of late April, the auction has not yet been completed. 

This setback has adversely affected the production of the latest, unnamed James Bond installment. According to the New York Times article, “James Bond Movie Delayed Due to Studio Auction,” the next Bond movie was originally supposed to be released in 2011 or 2012. The producers of the 007 franchise, Michael Wilson and Barbara Broccoli, stated, “Due to the continuing uncertainty surrounding the future of MGM and the failure to close a sale of the studio, we have suspended development on BOND 23 indefinitely.”  

The last two Bond Movies, “Quantum of Solace” and “Casino Royale,” together made a global box office profit of 1.18 billion. Sam Mendes, the director of "American Beauty" and "Revolutionary Road," is expected to direct the next James Bond movie, according to the New York Times.