A resurgent MGM may take James Bond back from Sony, Daniel Craig gets new 007 deal

11-Jul-2007 • Bond News

According to an article in trade paper the Hollywood Reporter, Sony, which released 2006's "Casino Royale" to roughly $167 million at the boxoffice, would love the rights to the James Bond franchise, though MGM is unlikely ever to let them go. As it stands, Sony has the right to distribute the upcoming Bond film theatrically, with MGM set to handle the film's release on cable and home entertainment.

"On the next Bond film, Sony is a 50-50 financier with MGM," says one source familiar with the arrangement. "But, according to their deal, in five years, MGM can buy Sony's 50% back. That was true on 'Casino Royale,' too: They can buy Sony's half back in five years, and there's plenty of TV and DVD money in those movies."

Indeed, MGM holds the rights to all future outings, and the resurrected studio is equally determined to make the most of Bond. Executives recently renegotiated the company's deal with star Daniel Craig to continue as 007, significantly upping his salary though declining to give him a share of back-end.