MGM Bankrupt: Bond 007 Put on Hold

Who doesn't enjoy watching our very own secret agent 007 AKA James Bond in action. But MGM is bankrupt, and in mounting debt. The Hollywood studio is up for sale, and hence, the 23rd Bond film will have to wait, at least until 2011. Along with the sale of the studio, the lucrative Bond franchisee will also be sold.

Michael Wilson produces the Bond flicks with Barbara Broccoli. He said, "Our timeline's a little up in the air what with the situation at MGM, so we have to be flexible. We just don't know enough about the situation to comment, but we know it's uncertain. We've hired the writers and we've been working with them but it's just too early to say anything. You know, often at this stage, I find myself saying, 'Oh, we're gonna do this and that', then six months from now you'll say, 'That isn't in the film at all - you told me it was...' "I think we're at the stage where a lot of ideas are floating around that sound very good, but whether they make the final cut, who knows?"

The last Bond film was Quantum Of Solace, and pre-production of the next film starring Daniel Craig has been put on hold. As of now, the 23rd Bond film's fate hangs in balance, and whatever happens, the earliest a new film could go on the floors is the end of 2010, with a release scheduled for 2011. So it is going to be a long wait for all the 007 fans, but Oscar-nominated screenwriter Peter Morgan promises that the wait is going to be worth it.