The MGM Studios of Amazon (AMZN) obtains a creative control of the “James Bond” franchise, while society seeks to deepen its position in streaming wars, The company announced Thursday.
The studio will form a joint venture to acquire the intellectual property rights of producers Barbara Broccoli and its brother-in-law Michael Wilson. The couple, who have long held creative control, will remain co -owners of the franchise, with Amazon. The financial conditions of the agreement have not been disclosed.
“With my career 007 extending over almost 60 incredible years, I recover from the production of James Bond films to focus on art and charitable projects,” Wilson said in a statement. “Consequently, Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to drive James Bond in the future.”
Amazon bought Hollywood Studio MGM Holdings in 2022 for 8.45 billion dollars, including debt, because it worked to strengthen its streaming service to better compete with Netflix (NFLX) and Disney (DIS).
At the time, Wall Street analysts and Hollywood observers congratulated the agreement, which gave Amazon access to a catalog of more than 4,000 films, including the “James Bond” franchise and 17,000 television programs like “Fargo” and “The Handmaid’s Tale”. In particular, the agreement included only distribution rights.
The company had long been in disagreement with Broccoli and Wilson, who had the power to decide when the films “James Bond” would go into production, as well as the casting choices and the global direction of the scenarios.
Now Amazon will have this power. The franchise is currently looking for his next James Bond after Daniel Craig moved away from the role in 2021.
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