James Bond film franchise now beneath Amazon MGM management after new deal

In a James Bond shakeup that stirred the movie business, Amazon MGM introduced Thursday that the studio has taken the artistic reins of the 007 franchise after a long time of household management. Longtime Bond custodians Michael G. Wilson and Barbara Broccoli mentioned they might be stepping again.

Amazon MGM Studios, Wilson and Broccoli shaped a brand new three way partnership during which they may co-own James Bond mental property rights — however Amazon MGM may have artistic management.

Monetary phrases weren’t disclosed. The deal is anticipated to shut someday this 12 months.

“With my 007 profession spanning almost 60 unbelievable years, I’m stepping again from producing the James Bond movies to deal with artwork and charitable initiatives,” Wilson mentioned in a press release. “Subsequently, Barbara and I agree, it’s time for our trusted companion, Amazon MGM Studios, to steer James Bond into the longer term.”

Amazon purchased MGM Studios in 2022 for $6.1 billion, a purchase order that was considerably motivated by the acquisition of one of many motion pictures’ most beloved and long-running franchises. Because the Daniel Craig period of 007 concluded with 2021’s “No Time to Die,” Broccoli and Wilson have reportedly clashed with Amazon MGM over the route of Bond.

The announcement Thursday implies that for the primary time in additional than half a century of Bond, a Broccoli will not be greenlighting the subsequent 007 movie, or selecting who inherits his tux. Amazon MGM additionally anticipates increasing the franchise past motion pictures.

“We’re grateful to the late Albert R. Broccoli and Harry Saltzman for bringing James Bond to film theaters around the globe, and to Michael G. Wilson and Barbara Broccoli for his or her unyielding dedication and their function in persevering with the legacy of the franchise that’s cherished by legions of followers worldwide,” mentioned Mike Hopkins, head of Prime Video and Amazon MGM Studios. “We’re honored to proceed this treasured heritage, and sit up for ushering within the subsequent part of the legendary 007 for audiences around the globe.”

Bond had been a household enterprise since Albert “Cubby” Broccoli secured the rights to diversifications of Ian Fleming’s novels and kicked off a run of 25 Bond movies produced by Eon Productions, starting with 1962’s “Dr. No.” These motion pictures have accrued $7.6 billion within the field workplace.

In 1995, the elder Broccoli handed over management of Eon to his daughter, Broccoli, and stepson, Wilson. Lately, the 64-year-old Broccoli has largely taken the lead as Wilson, 83, has aged into retirement.

“My life has been devoted to sustaining and constructing upon the extraordinary legacy that was handed to Michael and me by our father, producer Cubby Broccoli,” Broccoli mentioned in a press release. “I’ve had the honour of working intently with 4 of the tremendously gifted actors who’ve performed 007 and 1000’s of fantastic artists throughout the business. With the conclusion of ‘No Time to Die’ and Michael retiring from the movies, I really feel it’s time to deal with my different initiatives.”

Broccoli and Wilson’s earlier standoff with Amazon MGM had primarily frozen growth on the subsequent Bond film. No script, director or star has but been introduced for the subsequent installment, an unusually lengthy break for a franchise that has usually spaced movies two or three years aside. Broccoli additionally produced the 2022 movie “Until” and the musical “Buena Vista Social Membership,” opening subsequent month on Broadway.

A key level for the producers within the Amazon acquisition of MGM was a dedication to theatrically launch James Bond movies. That Bond’s future is now within the arms of an e-commerce big with one of many main streaming companies will instantly immediate doubts from some followers about Bond’s new company overloads. Different billion-dollar film franchises, such because the Disney-owned “Star Wars” and Marvel manufacturers, have struggled with over-saturation lately.

Even Joe Russo, co-director of 4 Marvel Cinematic Universe movies together with “Avengers: Endgame,” pleaded to Amazon MGM: “DON’T cinematic universe James Bond.”

“It’s certainly one of our final, nice theatrical occasions,” Russo mentioned on X. “Do not dilute that with a plethora of streaming spin-offs.”

In an interview final fall forward of receiving an honorary Oscar alongside her brother, Broccoli informed The Related Press that, in an period of upheaval within the film business, boldness was crucial.

“Persons are taking part in it very protected,” Broccoli mentioned. “I feel in occasions of disaster like this, you have to be courageous.”