James Bond shakeup! Amazon MGM takes creative control of 007 franchise, Wilson & Broccoli step back | Company Business News-OxBig News Network

In a James Bond shakeup, Amazon MGM announced on Thursday that the studio has taken the creative reins of the 007 franchise. Long-time producers Barbara Broccoli and Michael G. Wilson have announced their decision to step back, allowing Amazon to assume oversight of the beloved 007 series.

Amazon bought MGM Studios in 2022 for $6.5 billion. The purchase included a vast catalog with more than 4,000 films and 17,000 TV shows.

According to reports, since the Daniel Craig era of 007 concluded with 2021’s “No Time to Die,” Barbara Broccoli and Michael Wilson have reportedly clashed with Amazon MGM over the direction of Bond.

“No Time to Die” — the 25th James Bond film and Daniel Craig’s fifth and final turn as 007 — was released in 2021 and earned $775 million.

This means for the first time in the more than 50-year history of Bond, a Broccoli won’t be greenlighting a new James Bond film. Amazon MGM also anticipates expanding the franchise beyond movies.

Amazon MGM Studios, Wilson and Broccoli formed a new joint venture in which they will co-own James Bond intellectual property rights — but Amazon MGM will have creative control.

According to an AP report, the deal is expected to close sometime in 2025.

“With my 007 career spanning nearly 60 incredible years, I am stepping back from producing the James Bond films to focus on art and charitable projects,” AP quoted Michael Wilson’s official statement. “Therefore, Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to lead James Bond into the future.”

“Since his theatrical introduction over 60 years ago, James Bond has been one of the most iconic characters in filmed entertainment,” Variety quoted Mike Hopkins, head of Prime Video and Amazon MGM Studios.

“We are grateful to the late Albert R. Broccoli and Harry Saltzman for bringing James Bond to movie theatres around the world, and to Michael G. Wilson and Barbara Broccoli for their unyielding dedication and their role in continuing the legacy of the franchise that is cherished by legions of fans worldwide. We are honoured to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world.” Hopkins added.