It appears that the financial meltdown that MGM finds itself in is really taking a hold. First news filtered through that the upcoming Hobbit productions had been delayed from starting; and now it it has been officially announced that not even James Bond can withstand the enemy at the gates of MGM. Oh, their just bailiffs.
EON productions' Michael G Wilson and Barbara Broccoli have put out a joint statement via Coming Soon that casts a dim light on the future of the project.
"Due to the continuing uncertainty surrounding the future of MGM and the failure to close a sale of the studio, we have suspended development on Bond 23 indefinitely. We do not know when development will resume and do not have a date for the release of the film."
Will Bond return? Of course its a british film institution Bond will always exist in some form on the big screen. However when we will next see our man? And will it be Daniel Craig when it does come about? However while only small moves by other studios to enquire how much MGM would be looking to sell up and cover the reported $4 billion debts against it is another question entirely.
This news of course will also stir the mystical pot of The Hobbit, is it heading the same way indefinate delay? Unfortunately it is a matter of waiting to find out.
Stripping the assets and its back catalogue of films in order to save itself from bankruptcy, the likes of Bond and The Hobbit are likely to be auctioned off in order to generate revenue, one thing is for sure, while these films are held by MGM, they will not get made.
MATT RICHARDSON
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