Bond defeated…by budgetary concerns

Well, looks like James Bond has met an adversary he can’t best.

According to Variety, producers announced today that James’ next adventure has been postponed indefinitely, while they try and sort out their financial woes. MGM, in trouble since last year, has yet to find a buyer, and they “do not know when development will resume and do not have a date for the release of Bond 23.

The film, with a script written by Neal Purvis, Peter Morgan, and Robert Wade (Casino Royale, Quantum of Solace) was, according to Daniel Craig, supposed to start shooting later this year, but the woes of MGM are many, and obviously a studio with $3.7 billion in debt can’t make a movie that will cost as much as a typical James Bond flick does.

Not familiar with MGM’s money issues? Catch yourself up, but basically, MGM has a whole lot of debt, bankruptcy worthy debt, and currently, their lenders are extending them time to try and figure out how to restructure themselves. It’s believed that the remaining offers are in the $1.5 billion range, not exactly what the studio and debtholders are hoping for.

There are currently two bidders, Time-Warner and industrial group Access Industries.

Posted on April 19, 2010 at 21:25 by Lincoln Eddy · Permalink
In: News

One Response

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  1. Written by MO--
    on 2010-04-23 at 19:04

    Sad news. I really liked Craig as Bond. Who knows if he'll still be interested, should MGM ever be able to sort out their problems and do the next one …

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