Amazon MGM Studios Spent $1 Billion USD To Gain Creative Control Over 'James Bond' Franchise
In a joint venture with Michael G. Wilson and Barbara Broccoli.
Amazon MGM Studios has formed a joint venture with Michael G. Wilson and Barbara Broccoli to house the new James Bond intellectual property rights. The new venture gives Amazon MGM Studios full creative control of the beloved 007 franchise, however all parties will remain co-owners together.
In an official statement, Mike Hopkins, head of Prime Video and Amazon MGM Studios said, “Since his theatrical introduction over 60 years ago, James Bond has been one of the most iconic characters in filmed entertainment. We are grateful to the late Albert R. Broccoli and Harry Saltzman for bringing James Bond to movie theatres around the world, and to Michael G. Wilson and Barbara Broccoli for their unyielding dedication and their role in continuing the legacy of the franchise that is cherished by legions of fans worldwide. We are honoured to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world.”
Deadline reported that Amazon MGM Studios shelled out an additional $1 billion USD to ensure that it would have creative control over the franchise after siblings Barbara Broccoli and Michael G. Wilson have agreed to step back from their oversight role. When Amazon initially overpaid on its acquisition of MGM, Amazon shelled out $8.5 billion USD for the studio which was valued between $3.4 to $4 billion USD. This was done so in hopes to access the immensely successful James Bond franchise. However, although that was their intention, Amazon was unable to fully access the 007 franchise due to Broccoli and Wilson’s stake. Therefore, the group added another $1 billion USD to the mix to receive full creative control.
It is uncertain what exactly makes up the $1 billion USD deal at this time, but it adds to Amazon’s goal of becoming an international theatrical distribution arm that they hope to be fully operational by 2026. When Bond was still under the reign of Broccoli and Wilson, filmmakers such as Quentin Tarantino and Christopher Nolan have expressed interest in placing their own stamp on the Bond franchise.
