Oh noooo! This is such disappointing news for us James Bond fans. Movie studio MGM has confirmed that production of the twenty-third bond film has been completely terminated. Back in April, producers Michael Wilson and Barbara Broccoli announced that development of the next installment of the celebrated spy movie franchise had been put on hold “indefinitely” due to the financial instability of MGM, the distributor and major stakeholder of the Bond property. With this announcement, the film’s development has gone from being on hold to full stop.

To date, MGM is still bankrupt and seeking a buyer for the studio and/or its assets, such as James Bond. The studio has been given until July fourteenth by its lenders to work out a plan of action with potential buyers. The three major entities to emerge as the most likely to purchase MGM are Spyglass Entertainment, Summit Entertainment, and Lionsgate Entertainment.

Unfortunately, this news means it will likely be several years before we see a new Bond picture released in theaters. EON Productions, which produces the Bond films, has stated: “We do not know when development will resume and cannot comment further at this stage.” Daniel Craig, the most recent actor to play 007, has not released a statement about the cancelation. In light of the fact that he is under contract for at least two more films, Craig is probably not thrilled about the news.

I’m sad to say that it looks like we have no choice other than to simply live and let die… for now.

Not yet, but Bond must vie another day… or year for that matter!

Production of the next James Bond movie has been suspended indefinitely due to the uncertain future of MGM.

Producers Michael Wilson and Barbara Broccoli admitted they do not know when work on the 23^rd Bond film will resume and there is no scheduled release date. Wilson and Broccoli said: “Due to the continuing uncertainty surrounding the future of MGM and the failure to close a sale of the studio, we have suspended development on ‘Bond 23’ indefinitely.”

The fate of the next installment of Bond is unclear because of distributor MGM’s bankruptcy and pending sale. MGM has reportedly received buyout offers from other Hollywood studios, but is thought to be holding out for higher bids. If MGM is taken over, the spy movie franchise will theoretically be controlled by the new owners; however, MGM could also sell the film rights for the franchise independently.

The news of the untitled Bond picture’s suspension comes after the film’s prospective release date, potentially the third to star actor Daniel Craig as 007, was repeatedly pushed back. On the producer’s decision to halt the project, Craig said: “I have every confidence in Barbara and Michael’s decision and look forward to production resuming as quickly as possible.” Craig is widely expected to reprise the role of James Bond.

Ok, who do we have to call to get Bond back in action? Let’s get this movie going before Mr. Craig, the best Bond ever (I think), ages out of the role… which will take many decades of course.

Seriously MGM, don’t make us wait too long to see 007 kick more ass because if you do, we will need more than a quantum of solace.