Amazon MGM announced on Thursday that it has taken creative control of the 007 series after decades of family oversight, marking a dramatic change in the film business.
The custodians of the Veteran Bond, Michael G. Wilson and Barbara Broccoli, announced their retirement. Wilson, Broccoli, and Amazon MGM Studios have formed a joint venture to jointly own the intellectual property of James Bond.
However, creative control will remain with Amazon MGM.
The financial indicators were not disclosed. This year is when the agreement is expected to be concluded.
Wilson announced his decision to step down as producer of the James Bond films after more than 60 years of an incredible career with 007 in order to focus on his artistic and philanthropic activities.
Therefore, Barbara and I agree that it is now time for James Bond to be led into the future by our esteemed partner, Amazon MGM Studios.
The main reason Amazon paid $6.1 billion to purchase MGM Studios in 2022 was to have a renowned and long-lasting movie franchise. After the 2021 release of “No Time to Die,” which concluded Daniel Craig’s role as 007, Broccoli and Wilson allegedly disagree with Amazon MGM on the Bond franchise’s future.
For the first time in over 50 years of Bond history, a Broccoli will not be choosing the tuxedo’s heir or advertising the new 007 film, as was disclosed on Thursday. Amazon MGM is also expected to increase the property’s appeal outside of the film business.
Mike Hopkins, the CEO of Amazon MGM Studios and Prime Video, thanked Michael G. Wilson and Barbara Broccoli for their dedication to the franchise’s enduring history, as well as the late Albert R. Broccoli and Harry Saltzman for delivering James Bond to the big screen.
“We are privileged to continue this esteemed tradition and anticipate unveiling the next chapter of 007 to global audiences.” Since Ian Fleming’s works were adapted by Albert “Cubby” Broccoli, the Bond franchise has been a family endeavour.
Beginning with “Dr. No” in 1962, Aeon Productions produced the first 25 Bond films. At the box office, the films have made $7.6 billion in total.
In 1995, the elder Broccoli handed Aeon over to his stepson Wilson and daughter Broccoli. In recent years, Broccoli, 64, has mainly taken over as leader since Wilson, 83, departed.
Broccoli said, “I have devoted my life to the conservation and enhancement of the remarkable legacy that our father, producer Cubby Broccoli, imparted to Michael and me.” In addition to other exceptional talents in the industry, I have had the honour of working closely with four exceptionally talented actors who have represented 007;
This is a rare distinction. With Michael’s departure from the film series and the end of “No Time to Die,” I believe it’s time to focus on my other passions.
The prior conflict between Amazon MGM, Wilson, and Broccoli effectively put a stop to the next Bond movie’s production. Because the next picture, along with the plot, director, and star, have not yet been announced, a franchise that normally produces films every two to three years is taking an unusually long vacation.
Broccoli is also the producer of the Broadway musical “Buena Vista Social Club,” which will have its premiere next month, and the 2022 movie “Till.”
The creators’ dedication to releasing James Bond films in theatres was a major consideration in Amazon’s purchase of MGM. Some fans will surely be worried about Bond’s new corporate overseers, as his future now depends on an e-commerce giant that operates one of the most popular streaming services.
Two more billion-dollar movie series that have lately reached market saturation are Disney’s “Star Wars” and Marvel properties. The co-director of four Marvel Cinematic Universe films, including “Avengers: Endgame,” Joe Russo, told Amazon and MGM to “DO NOT create a cinematic universe for James Bond.”
Russo stated of X, “It is one of our ultimate notable theatrical endeavours.” “Avoid undermining that with excessive streaming spin-offs.”
Before sharing an honorary Oscar with her brother, Broccoli underlined the importance of bravery during a challenging period in the film industry in an interview with The Associated Press in October.
Broccoli remarked, “People are exercising considerable caution,” “Courage is essential during crises such as this.”
SOURCE: USN
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