Amazon MGM has taken creative control of the 007 franchise after decades of family oversight. Michael G. Wilson and Barbara Broccoli, longtime custodians of Bond, will step back.
Amazon MGM Studios, Wilson, and Broccoli have formed a new joint venture where they will be co-owners of the intellectual property rights of James Bond, but Amazon MGM will have creative control, the company announced on Thursday.
The deal is expected to close sometime this year. "With my 007 career spanning nearly 60 incredible years, I am stepping back from producing James Bond films to focus on art and charity projects," said Wilson in a statement. "Therefore, Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to steer James Bond into the future."
"Amazon acquired MGM Studios in 2022 for $6.1 billion, a purchase that was significantly motivated by acquiring one of the most beloved and long-standing franchises in cinema. Since the Daniel Craig era of 007 concluded with 2021's 'No Time to Die,' Broccoli and Wilson have reportedly clashed with Amazon MGM over the direction of Bond.
The announcement made on Thursday means that, for the first time in over half a century of Bond, a Broccoli will not greenlight the next film of 007, nor choose who inherits his tuxedo. "We are very grateful to Albert R. Broccoli and Harry Saltzman for bringing James Bond to movie theaters worldwide, and to Michael G. Wilson and Barbara Broccoli for their unwavering dedication and role in continuing the franchise's legacy, cherished by fans worldwide," said Mike Hopkins, head of Prime Video and Amazon MGM Studios. "We are honored to carry on this cherished heritage and look forward to starting the next phase of the legendary 007 for audiences worldwide."
Bond has been a family business since Albert Cubby Broccoli acquired the rights to adapt Ian Fleming's novels and started a series of 25 Bond films produced by Eon Productions, starting with 1962's "Dr. No." In 1995, Broccoli handed over control of Eon to his daughter Broccoli and stepson Wilson. In recent years, the 64-year-old Broccoli has largely taken the helm, while the 83-year-old Wilson retired. "My life has been dedicated to maintaining and building upon the extraordinary legacy left to Michael and me by our father, producer Cubby Broccoli," said Broccoli in a statement. "I have had the honor of working closely with four tremendously talented actors who have portrayed 007 and with thousands of wonderful industry artists. With the conclusion of 'No Time to Die' and Michael's retirement from the films, I believe it is time to focus on my other projects," she concluded.
"A key point for the producers in Amazon's acquisition of MGM was the commitment to theatrical releases of James Bond films. The future of Bond now being in the hands of an e-commerce giant with a leading streaming service will surely raise concerns among some fans about the new corporate overload of Bond. Other billion-dollar film franchises, like Disney's 'Star Wars' and Marvel brands, have struggled in recent years with oversaturation. In an interview last fall before receiving an honorary Oscar alongside her brother, Broccoli told The Associated Press that in a time of upheaval in the film industry, boldness was necessary. "People are playing it very safe," Broccoli said. "I think in times of crisis like this, you have to be brave."
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