In news that will send shock waves through the industry, longtime James Bond producers Michael G. Wilson and Barbara Broccoli are relinquishing control of the beloved spy franchise and handing the reins to Amazon MGM Studios.
As part of the arrangement revealed Thursday, Amazon and the producers have formed a new joint venture to house the Bond intellectual property rights, with Broccoli and Wilson remaining co-owners of the franchise.
Related Stories
Under terms of the new venture, Amazon MGM Studios will gain creative control of 007. Financial details were not disclosed, but there is already industry speculation that Broccoli and Wilson will have received a healthy payday from Amazon and will continue to have some shared economics going forward.
Since the most recent series starring Daniel Craig came to a close with the 2021 pic No Time to Die, 007 has appeared to be in no-man’s land. Despite wild speculation about who will replace Craig, there have been no substantive updates about the future of the franchise.
Watch on Deadline
RELATED: James Bond Movies In Order: Filmography, Bond Women & Iconic Villains
In this information vacuum, there have been multiple deeply reported press stories about tensions between Amazon and the Bond producers following the streamer’s $8.5 billion takeover of MGM in 2022. The Wall Street Journal reported in December that the relationship had “all but collapsed” and Broccoli had characterized Amazon to friends as “f****** idiots.”
Now, some of that ire had to do with Broccoli’s resistance to making James Bond open to an expanded universe concept that was embraced with Star Wars, Spider-Man and the Marvel superhero universe. Spinoffs on other characters did not please her, and they would be a priority to a volume-driven company like Amazon. To Broccoli, 007 is a gem that consists of a movie at a time, carefully crafted, and never out of her controlling hands. The five-picture arc accomplished with Craig with filmmakers like Sam Mendes was a remarkable achievement. But clearly, something had to give because it has just taken too long to get on track with a new chapter for 007, with a new star-in-the-making to play him. And with great filmmakers like Christopher Nolan, Quentin Tarantino and Edward Berger all 007 acolytes who’ve expressed interest in taking the baton, today’s development might make it possible to enlist a filmmaker like Tarantino or Nolan, who insist on control of their projects. That was never going to happen under Broccoli and Wilson, protecting the asset their father built into Hollywood’s most enduring blockbuster franchise.
First thing is, who at Amazon will run and oversee this? Internally, Amazon’s top film executive, Courtenay Valenti, is a seasoned pro who oversaw all kinds of big films at Warner Bros. Also under that umbrella is Scott Stuber, who after building the Netflix film output was brought in to revive United Artists. He might be a smart choice because he’s just getting underway, and 007 has a long history with the UA banner. Both of them have impeccable creative relationships and reputations. So there are capable adults on the premises who can guide the next iteration of the franchise. It is clear that money had to be a big part of today’s development, but Wilson and Broccoli have plenty of that and the importance of the switch is the caretaking of his franchise jewel. Speculation is also that with Wilson peeling off to focus on other things, Broccoli might have decided that the series on which she was so hands on, the one with Craig, was a great way to go out, and that a back seat is preferable at this point.
The tone in today’s press release was not so caustic, with Wilson describing Amazon as a “trusted partner.” Following the deal, insiders said no decisions have been made on future Bond films, including who will star, direct, and write the next feature. It means another installment is likely years away.
“Since his theatrical introduction over 60 years ago, James Bond has been one of the most iconic characters in filmed entertainment,” said 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.”
“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. Therefore, Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to lead James Bond into the future,” said Wilson.
This news is significant in the history of the iconic MI6 agent as for decades producers have gained significant leverage when it came to decisions regarding the franchise.
Broccoli said: “My life has been dedicated to maintaining and building upon the extraordinary legacy that was handed to Michael and me by our father, producer Cubby Broccoli. I have had the honour of working closely with four of the tremendously talented actors who have played 007 and thousands of wonderful artists within the industry. With the conclusion of No Time to Die and Michael retiring from the films, I feel it is time to focus on my other projects.”
In 2022, Amazon acquired MGM, including a vast catalog with more than 4,000 films and 17,000 TV shows. Since the acquisition, Amazon has held the rights to distribute all of the James Bond films.
Andreas Wiseman contributed to this report.