Latest 'Bond' film set to be most expensive yet

Emails released during a recent hack on Sony Pictures have revealed that the upcoming 24th James Bond film "Spectre" could cost more than $300 million and that MGM Studios has been looking to trim costs.

According to documents seen by CNN, MGM president Jonathan Glickman sent an internal memo in November stating that the budget for the film "sits in the mid $300Ms", which is significantly higher than that of "Skyfall", estimated to have cost $210 million before tax breaks, reports hollywoodreporter.com.

"We recognise that this movie needs to build on the past few films -- and there are expectations we must meet for the audience. Still, we must find further cuts. This is not about 'nickel and diming' the production," Glickman added.

The article outlines several suggestions mentioned by Glickman to help lower expenditure, including shooting a nighttime scene in London instead of Rome, using few carriages for a fight scene on a train, scrapping rain in the finale to cut effects cost and maximizing a financial incentive in Mexico by showing "the more modern aspects" of the country.

"Spectre" began shooting in London's Pinewood Studios Monday.