MGM Losing the James Bond Franchise?
Posted 10.06.09 by BrentJS
Less than a week ago, MGM received a deferment on their outstanding loans to allow them to continue with plans for producing a Guillermo del Toro-led production of The Hobbit. At the time of the announcement, nothing was said about the other properties under MGM's umbrella, such as the 007 franchise, the most valuable one in its library.
Now, it appears that MGM may be forced to sell off the rights to future James Bond movies to generate some much-needed cash. According to We Are Movie Geeks, a "source close to the dealings" claims that MGM has already sold the marketing and distribution rights to 20th Century Fox and that the official announcement will "come out any day now."
Sony, who acquired MGM in 2004, has used Sony Pictures to market and distribute the last two movies, Casino Royale and Quantum of Solace. Prior to this, MGM partnered with Fox on all home video and international marketing.