MGM Aims to Release New James Bond Movie in 2012
Bankruptcy filings reveal that MGM hopes to release its next James Bond movie in 2012.
The studio, which named Spyglass Entertainment co-toppers Gary Barber and Roger Birnbaum as co-CEOs, plans to own 50 percent of Bond 23, out that fall, with a partner paying all of the production costs, according to Bloomberg News.
It then plans to release a new Bond movie every second year thereafter. MGM plans to wholly own and fund those.
The company also said through bankruptcy filings that its obligations to The Hobbit are between $265 million and $275 million. Its investment stake is $40 million, and the rest will be funded by a lender, Bloomberg reported. Costs and ownership are being shared equally with New Line.