James Bond movie delayed due to studio auction (Reuters)

Source: Reuters Mon Apr 19, 2010, 5:46 pm EDT Buzz up!

LOS ANGELES (Reuters) - The next James Bond movie will be delayed indefinitely due to "uncertainty" from the still unfinished auction of MGM, the movie studio behind the film series, producers said on Monday.

The so far untitled movie, which will be the 23rd in the series about the British spy, had been due for release in 2011 or 2012.

James Bond is one of MGM's most lucrative fanchises.

But Michael Wilson and Barbara Broccoli, the producers of James Bond, said in a joint statement, "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 two producers added that they do not know when development of the film will resume and when it will be released in theaters.

A representative for MGM could not be reached for comment.

MGM last year began exploring a potential sale of itself, and sources said in March the company received a $1.5 billion bid from Time Warner Inc.

It was the highest bid received for MGM, but still below the $2 billion or more that the storied Hollywood studio had initially hoped to receive, and it could still file for bankruptcy, sources have said.

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ABOUT THE AUTHOR Genre Novelist/Screenwriter Known for his spy thrillers set in exotic locations across the globe, Kensington Roth is the author of this highly acclaimed, explosive spy-thriller since James Bond. Able Danger sets the international espionage spectrum of sequels.