BREAKING FILM NEWS

Wednesday, April 13, 2011

Sony And MGM Target "Bond 23"

Sony Pictures Entertainment and MGM will co-finance, theatrically market and distribute "Bond 23" worldwide, according to MGM Co-Chairmen, Chief Executive Officers Gary Barber, Roger Birnbaum and Sony Pictures Chairman, CEO Michael Lynton and Co-Chairman Amy Pascal.

Sony Pictures and MGM said the studios look forward to Sony Pictures co-financing and distributing "Bond 24" on a similar basis. Additionally, MGM and Sony Pictures have agreed to explore co-financing opportunities on future motion pictures produced by each of the respective studios for the next five years.

The two studios have collaborated directly and indirectly in recent years on numerous films, including "Casino Royale", "Quantum of Solace" and "The Pink Panther".

The announcement of the agreement to distribute "Bond 23" adds another high-profile title to Sony’s 2012 slate, which also includes "Men in Black 3", "The Amazing Spider-Man", "21 Jump Street", "Resident Evil 5" and "Total Recall".

"Sony Pictures is the ideal studio partner for us as MGM re-enters the filmmaking business," said Barber and Birnbaum.

"In addition to working together on Bond, this deal expands our relationship with MGM as we explore co-financing opportunities on other high-profile projects," said Lynton.

"After successfully working on the re-launch of the James Bond franchise with 'Casino Royale' and 'Quantum of Solace,' we could not be more proud or privileged to continue our association with Barbara Broccoli, Michael G. Wilson, Daniel Craig, and the talented teams at EON and MGM," said Pascal.

Sony released "Casino Royale" earned $599 million in worldwide ticket sales and "Quantum of Solace" generated $577 million.

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