MGM revives stalled James Bond project

MGM revives stalled James Bond project

James Bond will soon embark on a new mission onscreen after a revitalized MGM Studios announced Tuesday that the 23rd Bond film will be released in November 2012.

With financial woes behind it, the legendary Metro-Goldwyn-Mayer outfit will be reviving the spy film project starring  Daniel Craig as 007 that was postponed in April 2010 due to debt problems saddling the studio.

MGM worked out a debt restructuring and reorganization plan with Spyglass Entertainment.

The famous James Bond character, previously portrayed by such stars as Sean Connery and Pierce Brosnan, will be played for the third time by Daniel Craig, the producers said in a statement.

"Daniel Craig will be returning as the legendary British secret agent, with Sam Mendes directing a screenplay written by Neal Purvis, Robert Wade and John Logan," said a joint statement from Michael Wilson and Barbara Broccoli of EON Productions and Roger Birnbaum and Gary Barber of MGM.

Production is slated to begin late this year and the film will hit cinemas on November 9, 2012.

MGM boasts a wide catalogue of films which include the "Bond", "Pink Panther" and "Rocky" movie franchises as well as classics "Singin' in the Rain" and "The Wizard of Oz."

The return of MGM and its trademark roaring lion logo to the big screen was made possible by the approval of the financial rescue plan by creditors.

Spyglass was chosen over a competing bid by billionaire investor Carl Icahn who is said to own some 800 million dollars of the iconic studio's debt. Icahn proposed to merge MGM with Lionsgate in which he holds a large stake.

Posted by Kade Quinn on Wednesday January 12 2011, 1:49 AM EDT. Ref: Inquirer. All trademarks acknowledged. Filed under Entertainment, Featured News. Comments and Trackbacks closed. Follow responses: RSS 2.0