Amazon MGM takes creative reins of James Bond, ending era of family control

In a James Bond shakeup that stirred the film industry, Amazon MGM has announced that the studio has taken the creative reins of the 007 franchise after decades of family control. Longtime Bond custodians Michael G Wilson and Barbara Broccoli said they would be stepping back.

Amazon MGM Studios, Wilson and Broccoli formed a new joint venture in which they will co-own James Bond intellectual property rights but Amazon MGM will have creative control.

Financial terms weren't disclosed. The deal is expected to close sometime this year.

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, Wilson said in a statement on Thursday evening. Therefore, Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to lead James Bond into the future.

Amazon bought MGM Studios in 2022 for $6.1 billion, a purchase that was significantly motivated by the acquisition of one of the movies' most beloved and long-running franchises. Since the Daniel Craig era of 007 concluded with 2021's No Time to Die, Broccoli and Wilson have reportedly clashed with Amazon MGM over the direction of Bond.

The announcement means that for the first time in the more than half a century of Bond, a Broccoli won't be greenlighting the next 007 film, or picking who inherits his tux. Amazon MGM also anticipates expanding the franchise beyond movies.

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, said Mike Hopkins, head of Prime Video and Amazon MGM Studios. 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.

Bond had been a family business since Albert Cubby Broccoli secured the rights to adaptations of Ian Fleming's novels and kicked off a run of 25 Bond films produced by Eon Productions, beginning with 1962's Dr. No. Those movies have accrued $7.6 billion in box office.

In 1995, the elder Broccoli handed over control of Eon to his daughter, Broccoli, and stepson, Wilson. In recent years, the 64-year-old Broccoli has largely taken the lead as Wilson, 83, has aged into retirement.

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, Broccoli said in a statement. 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."  Broccoli and Wilson's previous standoff with Amazon MGM had essentially frozen development on the next Bond movie. No script, director or star has yet been announced for the next installment, an unusually long break for a franchise that has typically spaced films two or three years apart.

Broccoli also produced the 2022 film Till and the musical Buena Vista Social Club, opening next month on Broadway.

A key point for the producers in the Amazon acquisition of MGM was a commitment to theatrically release James Bond films. That Bond's future is now in the hands of an e-commerce giant with one of the leading streaming services will immediately prompted doubts from some fans about Bond's new corporate overloads.

Other billion-dollar movie franchises, such as the Disney-owned Star Wars and Marvel brands, have in recent years struggled with over-saturation.

Even Joe Russo, co-director of four Marvel Cinematic Universe films including Avengers: Endgame, pleaded to Amazon MGM: DON'T cinematic universe James Bond.

It is one of our last, great theatrical events, Russo said on X. Don't dilute that with a plethora of streaming spin-offs.

In an interview last fall ahead of receiving an honorary Oscar alongside her brother, Broccoli told The Associated Press that, in an era of upheaval in the movie industry, boldness was necessary.

People are playing it very safe, Broccoli said. I think in times of crisis like this, you've got to be brave.