Financial woes put Bond film on hold

What does it take to stop James Bond? Money woes at Metro-Goldwyn-Mayer. The studio, which is home to the James Bond franchise, is $3.7 billion in debt. And without restructuring or a sale, the 23rd film of the iconic franchise has been pushed back indefinitely.

In a press release, producers Michael G. Wilson and Barbara Broccoli said:

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. We do not know when development will resume and do not have a date for the release of "Bond 23."

By the way, that's a picture of the 1976 Lotus Esprit Coupe used in the James Bond film "The Spy Who Loved Me" below. (Leon Neal/AFP/Getty Images)

About the author

Daryl Paranada is the associate web producer for Marketplace overseeing all daily website content and production, as well as producing multimedia features -- including the popular economic explainer series Whiteboard -- and special projects. Follow him on Twitter @darylparanada.

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