Sony Pictures, MGM to jointly produce and distribute next two Bond movies

Sony Pictures and MGM on Wednesday, entered a pact for joint production and distribution of the next James Bond film untitled movie presently called ‘Bond 23’ that is slated to be released on Nov. 9, next year.

Reportedly, the two companies are also expected to jointly handle production and distribution of Bond 24, and MGM may also collaborate in financing Sony’s ‘The Girl With the Dragon Tattoo’ that releases this year on Dec. 21 and ‘Total Recall’.

“As part of the deal, announced Wednesday by MGM’s Gary Barber and Roger Birnbaum and Sony’s Michael Lynton and Amy Pascal, MGM and Sony are also exploring co-financing deals on future movies produced by each of the studios during the next five years,” said a spokesperson.

Deal expands relationship between Sony and MGM

MGM was on the lookout for a studio to distribute its next Sam Mendes directed Bond movie starring Daniel Craig as James Bond.

“While talks with Paramount broke down when that studio declined to go below an 8 percent distribution fee and wouldn’t agree to partner on other films, Sony moved to the head of the list to capture the Bond distribution rights,” a company spokesperson said.

Adding that the company was happy to be associated with MGM, Sony’s Michael Lynton said, “In addition to working together on Bond, this deal expands our relationship with MGM as we explore co-financing opportunities on other high-profile projects.”

Sony ideal studio partner, say Bond producers

Even the producers of Bond films, Barbara Broccoli and Michael G. Wilson supported the association between the two companies and said that Sony was behind the re-launch of the Bond franchise.

“Sony Pictures is the ideal studio partner for us as MGM re-enters the film-making business. We have longstanding relationships with Michael and Amy and look forward to what promises to be a prosperous future together,” the producers said.