Amazon MGM takes creative control of 007 franchise

Amazon MGM Studios is taking creative control of the James Bond franchise.

Transcript

00:00The James Bond movie franchise was already in the hands of Amazon MGM Studios,

00:04but now the iconic spy series will be totally under the studio's creative control

00:09in what is being described by Hollywood insiders as a stunning shake-up.

00:14Current co-owners of the franchise, Michael G. Wilson and Barbara Broccoli,

00:18will retain intellectual property rights,

00:21but the creative direction of the franchise will now fall entirely on the shoulders of Amazon MGM Studios.

00:29Amazon, and its billionaire founder Jeff Bezos,

00:32bought famed MGM Studios back in 2022 for $8.5 billion.

00:36The deal gave Amazon the rights to distribute Bond films,

00:40but creative control remained with siblings Wilson and Broccoli,

00:43who inherited it from their father.

00:46A statement from the head of Prime Video and Amazon MGM Studios

00:50praised the two, quote,

00:51for their unyielding dedication and their role in continuing the legacy of the franchise

00:57that is cherished by legions of fans worldwide.

01:00We are honored to continue this treasured heritage

01:03and look forward to ushering in the next phase of the legendary 007.

01:08Bezos immediately asked his nearly 7 million ex-followers, quote,

01:13who would you pick as the next Bond?

01:15That is the biggest question facing the future of the franchise.

01:18Daniel Craig stepped back from the role in 2021,

01:21and a new actor has yet to be named.

01:24James Bond has been a movie favorite for over 60 years,

01:28raking in more than $7 billion at the global box office.

01:33Turning to financial markets, stocks were down on Thursday.

01:37Defense stocks like Palantir were slammed

01:39on fears a proposed cutback in U.S. defense spending will hurt business.

01:43Meanwhile, gold prices touched a record high

01:46within shooting distance of $3,000 an ounce.

01:50That'll do it for your daily briefing from the New York Stock Exchange.

01:53I'm Conway Gittins with The Street.