The world of cinema was taken by surprise earlier this year when Amazon took full creative control of the James Bond franchise.
When producing partner Harry Saltzman faced financial trouble and didn’t sell his half of the shares in the franchise to Cubby Broccoli, it left a tangled web of issues behind that would come back to haunt the franchise several times.
The short, simple, version is that the rights ended up split 50/50 between Broccoli’s Danjaq SA, and the studio (usually MGM). Eon Productions, wholly owned by the Broccoli family, was still the sole production house that could make a Bond movie, with the studio that owned the other half of the rights putting up the costs. This was not too difficult for them until most recently, as most Bond movies had made back millions from product placement way before a single frame was shown at a theater.
The Broccoli clan had final creative say at all times in the event of disagreements.
When Amazon purchased MGM and therefore became the studio that owned the other 50%, there were reportedly creative issues behind the scenes. These eventually led to the Broccoli family walking away for a rumored $1 billion.
Now, a report in Variety has revealed some details that paint a very different picture.
It turns out the amount of money that changed hands was a much more modest $20 million. However, the big difference from the earlier reports is that they are not completely out of the picture.
Part of the deal was that the franchise now resides under a joint venture to house the intellectual property rights – Amazon, Wilson, and Broccoli are all co-owners of the property.
This means stock options, profit sharing, complex points deals, and even a slice of merchandising are likely in play, and that will be worth billions as the franchise moves forward if it maintains its longevity.
Long-time producers Michael G. Wilson and Barbara Broccoli have now passed their creative baton to David Heyman and Amy Pascal, in largely the same capacity that they previously had as producers.
Bond 26, to give it its working title, is currently being written by Peaky Blinders and SAS Rogue Heroes creator Steven Knight. It will be directed by Dune helmer Denis Villeneuve.
