Amazon MGM Studios Shelled Out An Extra $1 Billion-Plus To Take Control Of James Bond: What’s Next For The Franchise
EXCLUSIVE: It’s taking around $1 billion to have 007 stewards Barbara Broccoli and Michael G. Wilson cede creative oversight of their family’s storied James Bond franchise to Amazon MGM Studios, sources tell us.
Amazon originally overpaid on its purchase of MGM in a deal orchestrated by then-MGM board chair Kevin Ulrich. Though valued between $3.5 billion-$4 billion, the legendary motion picture studio was absorbed by the streamer for $8.5 billion, the hefty sum propped up by the potential access of the 007 franchise. However, Amazon couldn’t fully freely develop Bond with Broccoli and Wilson in the mix. Hence, it took another $1 billion to ensure that they could fully steer and exploit the Ian Fleming IP.
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Details on what makes up the new $1 billion deal is unknown at this time, and whether it includes Amazon stock options; the deal for Amazon MGM to take full creative command of Bond hasn’t closed yet, we’re told, while Amazon MGM Studios declined comment for this story. The expectation from sources is that there will be an element of shared economy in the movies going forward.
All of this was a necessary step to propel Bond into the immediate future: Amazon has spent an immense amount of money on MGM, and it had to be deliberate when it came to pushing along the 007 IP. Amazon is a volume-driven company, and this morning’s announcement of the deal put the pedal to the metal.
Also, Amazon’s full control of Bond comes at a time when there’s no such thing as a coincidence. As Deadline first told you, the streamer is looking to have an international theatrical distribution arm fully operational by some time in 2026.
Those close to Broccoli and Wilson’s camp are gobsmacked that Broccoli caved to the streamer. “She’s a fighter” says one source, “but she got tired of fighting.” Another acknowledges it had to be an “emotional decision” for Broccoli. Also, with Wilson ready to retire, Broccoli wasn’t going to go at it alone.
Broccoli’s ire surrounded Amazon’s desire to expand the James Bond franchise into its own universe akin to Marvel or Star Wars. Broccoli and Wilson, children of legendary 007 producer Albert R. Broccoli, and always held the line on quality control when it came to the British spy, keeping the series as a stand-alone big-screen brand.
With today’s news, Amazon can now proceed in extending the life of Bond.
In the past, filmmakers including Quentin Tarantino and Christopher Nolan have expressed an interest in putting their stamp on Bond; both however, required complete creative control, which wasn’t possible under the reign of Broccoli and Wilson. Now, with the producers on the side, Amazon can move forward to attract a top-tier director.
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Also available to come to life in the new deal finally are a slew of Bond villains and women in their own series or features. The last time an attempt was made to spin off the Bond franchise was in 2003 with a stand-alone movie about the spy’s girlfriend Jinx, played by Halle Berry in Die Another Die. Bond scribes Neal Purvis and Rob Wade were attached to pen that, with Stephen Frears circling, but Broccoli and Wilson put the kibosh to the idea due to creative differences.
The hard work now begins immediately in choosing the right executive to steer Bond in Kevin Feige-fashion at Amazon MGM Studios. Meanwhile, cynicism abounds around town.
One senior British film executive lamented: “Without Barbara’s careful supervision, Bond just becomes Jack Reacher in some TV show.”
One thing about Amazon versus the traditional motion picture studios: It will spend and market to the high heavens to make a movie, for as a streamer, they don’t have any stakes. The danger per one well-placed studio player: “Watch this space: It’s going to end up like The Gorge. “
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Now, there are execs already on hand at Amazon MGM Studios to prevent such blunders including Scott Stuber, who has a history of shepherding tentpoles at Universal and is the head of UA, Bond’s traditional home studio. There’s also Amazon’s top film executive Courtenay Valenti, who knows what it takes to create and launch a global franchise having been behind such movies as Barbie, Mad Max: Fury Road and the Harry Potter spinoff movies Fantastic Beasts at Warners.
Also key, of course, is finding a new actor to play Bond, particularly someone who is young enough. For much like the Bonds before him, e.g., Sean Connery, Roger Moore, Pierce Brosnan and Daniel Craig, they’ll need to wear the tuxedo for at least a decade or more.
“They would have just kept on fighting,” says one source about the rift between Broccoli/Wilson and Amazon. “Now a new Bond movie can be delivered to a new generation, much sooner.”
Mike Fleming, Andreas Wiseman and Baz Bamigboye contributed to this report.
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