Amazon MGM Studios has announced it will take creative control of the James Bond franchise as part of a new agreement with longtime 007 custodians Michael G. Wilson and Barbara Broccoli.
Per the Associated Press, Amazon MGM Studios, Wilson and Broccoli's new joint venture will see the parties co-own intellectual property rights, while the studio will have the final word regarding creative control.
Financial terms of the deal, expected to close this year, were not disclosed.
Amazon acquired MGM for $8.45 billion USD in 2021, and last December, The Wall Street Journal reported that Amazon MGM was "at an impasse" with Wilson and Broccoli when it came to continuing the franchise beyond 2021's No Time to Die, the fifth and final Bond film to star Daniel Craig.
Per the report, based on interviews with more than 20 people familiar with the situation, Broccoli "told friends she doesn't trust algorithm-centric" Amazon with a character she helped to mythologize through big-screen storytelling and gut instinct.
Broccoli and stepbrother Wilson inherited the rights to the Bond franchise in 1995 from her late father, Albert "Cubby" Broccoli. The WSJ report noted that she reportedly balked at potential for spinoffs, and was offended by an executive reducing the franchise to "content" in a 2022 meeting.
Now, the Associated Press reports that Amazon MGM "anticipates expanding the franchise beyond movies," not unlike Disney's approach with the intellectual property of Star Wars and Marvel Comics.
"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."
Broccoli shared, "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."