Amazon MGM Studios (Amzn) Gets creative control of a story franchise “James Bond” as the company seeks to deepen its position in the streaming wars, The company announced on Thursday.
The studio will form a joint venture to acquire the intellectual property rights from producers Barbara Broccoli and her herbivor Michael Wilson. The pair, which has long held creative control, will remain joint franchise owners, along with Amazon. The financial terms of the deal were not disclosed.
“With my 007 career spanning nearly 60 amazing years, I'm stepping back from the production of James Bond films to focus on art and charity projects,” Wilson said in a statement. “So, Barbara and I agree, it's time for our trusted partner, Amazon MGM Studios, leading James Bond for the future.”
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Amazon bought Hollywood Studio MGM Holdings In 2022 for $ 8.45 billion, including debt, as he works for beef his streaming service to better compete with people like Netflix (Nflx) and Disney (Desk).
At the time, Wall Street analysts and Hollywood viewers praised the deal, which gave access to Amazon to a catalog of more than 4,000 films, including the “James Bond” franchise, and 17,000 TV shows such as “Fargo” and “The Handmaid's Tale . ” Notably, the deal was just distribution rights.
The company Been odds for a long time With Broccoli and Wilson, who had the power to determine when the “James Bond” films were going to produce, as well as casting options and the general direction of story lines.
Now, Amazon will have that power. The franchise is currently looking for his next James Bond after Daniel Craig stepped away from the role in 2021.
“We are honored to continue this treasure heritage and we look forward to taking the next phase of the legendary 007 for audiences worldwide,” Mike Hopkins, head of Prime Video and Amazon MGM Studios, said in a statement.
Amazon has one of the widest audience parts of all streaming platforms due to its main distribution service and ability to retain consumers within its ecosystem. Last year, the company enter the streaming space supported by an advertisement By lacking all its primal video subscriptions to ads.
He has made a recent push for professional sports, holding rights to NFL and NBA games. He has also killed an upcoming original programming, including New “Legally Blonde” series.
Alexandra Canal a senior correspondent at Yahoo Finance. Follow her on x @allie_canal. LinkedIn, and email her at alexandra.canal@yahoofinance.com.