In a James Bond shake-up that involved the film industry, Amazon MGM announced Thursday that the studio has taken away the creative reins of the 007 franchise after decades of family control. Longtime bond managers Michael G. Wilson and Barbara Broccoli said they would retreat.
Amazon MGM Studios, Wilson and Broccoli have formed a new joint venture that co-owns James Bond’s intellectual property rights, but Amazon MGM has creative control.
Financial conditions have not been disclosed. The transaction is expected to close within this year.
“My 007 career spans nearly 60 years of incredible years, so I’ve returned from the production of James Bond films with a focus on arts and charity projects,” Wilson said in a statement. I’ve said that. “So Barbara and I agree, it’s time for our trusted partner, Amazon MGM Studios, to bring James Bond into the future.”
Amazon bought MGM Studios in 2022 for $6.1 billion. This is a purchase that was heavily motivated by the acquisition of one of the film’s most beloved and long-term franchises. Since 007’s Daniel Craig era concluded with “No Time To Die” in 2021, Broccoli and Wilson reportedly have clashed with Amazon MGM over Bond’s direction.
Thursday’s announcement means that for the first time in a bond that has been over half a century, broccoli will not choose anyone to light up the next 007 film green or inherit his taxes. Amazon MGM is also expecting to expand its franchise beyond films.
“The late Albert R. Broccoli and Harry Saltzmann have brought James Bond to cinemas around the world, and to Michael G. Wilson and Barbara Broccoli, their indomitable dedication and franchise legacy. Regarding their continued role, Prime Video Director Mike Hopkins and Amazon MGM Studios’ Mike Hopkins said: “We are honored to continue this precious legacy. We look forward to escorting us the next stage of legendary 007 for audiences around the world.”
Albert “Cubby” Broccoli secured the right to adaptation of Ian Fleming’s novel, and 1962’s “Dr. No.” These films earned $7.6 billion at the box office.
In 1995, Elder Broccoli handed over control of Eon to his daughters Broccoli and Wilson’s son-in-law. In recent years, 64-year-old Broccoli has been taking the lead primarily as 83-year-old Wilson has retired.
“My life has been dedicated to maintaining and building the extraordinary legacy handed over to Michael and me by my father, Cubby Broccoli,” Broccoli said in a statement. “I have the honor of working closely with four incredibly talented actors who have played thousands of great artists in the 007 and the industry. “No Time To Die” and Michael retired from the film. With that conclusion, I feel it’s time to concentrate on other projects. ”
Broccoli and Wilson’s previous standoff with Amazon MGM had essentially frozen developments in the upcoming Bond film. In the next article, no scripts, directors, or stars have been announced yet. This is an unusually long break for franchises that are usually spaced a few years apart. Broccoli also produced the 2022 film “Till” and the musical “Buena Vista Social Club” and opened on Broadway next month.
A key point for producers in MGM’s Amazon acquisition was their commitment to releasing James Bond films theatrical release. That bond future is in the hands of the e-commerce giant, with one of the leading streaming services, and immediately spurs doubts from fans about the overload of Bond’s new company. Other billion-dollar movie franchises, including Disney-owned Star Wars and the Marvel brand, have suffered from oversaturation in recent years.
Even Jorusso, co-director of four Marvel Cinematic Universe films, including “Avengers: Endgame,” pleaded with Amazon MGM.
“This is one of our last great theatrical events,” Russo said in X.
Before receiving the Honorary Oscar with his brothers last fall, Broccoli told The Associated Press that boldness is needed in an era of rapid upheaval in the film industry.
“People play very safely,” Broccoli said. “In times of crisis like this, I think you have to be brave.”
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