Movies

Cash-strapped MGM puts next Bond film on hold

MUMBAI: The continuing uncertainty surrounding the future of MGM and the failure to close a sale of MGM, the work on the next Bond film Bond 23 has been put on hold indefinitely.


This came to light when Michael G. Wilson and Barbara Broccoli of EON Productions Ltd., producer of the long-running James Bond franchise issued a statement saying that development work on the next 007 film had been suspended because of financial difficulties at MGM.


Solicitations of offers to buy the studio resulted in a couple rounds of underwhelming bidding by studio companies such as Lionsgate, Warner Bros. and Fox.


More recently, News Corp. and others were into discussions of possible limited investments in the studio that has been cash-strapped and burdened by a big debt load.


After sharing Casino Royale and Quantum of Solace with Sony, MGM recently regained full control of the Bond franchise. The films together amassed $1.18 billion at the worldwide box-office.
 

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