Business of Bond: MGM goes studio shopping

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What studio will release the next 007 film?

Even as SPECTRE rolls out, Metro-Goldwyn-Mayer is gearing up its search for the next James Bond distribution deal, according to stories in THE WALL STREET JOURNAL and DEADLINE: HOLLYWOOD.

Sony Pictures has released the last four 007 films, going back to 2006’s Casino Royale. That deal runs out with SPECTRE.

Here’s an excerpt from the Journal’s story by Ben Fritz:

Several studios are planning to pursue those (distribution) rights, according to people familiar with the matter, even though there is surprisingly little profit in releasing Bond films.

The Journal dug up a Sony document that saw the light of day because of last year’s computer hacking at the studio.

With Skyfall, which had worldwide box office of $1.11 billion, “Sony made just $57 million” on the the 2012 007 film, “a small sum for a movie with such a huge box-office performance,” according to the newspaper.

MGM made about $175 million while the co-bosses of Eon Productions, Michael G. Wilson and Barbara Broccoli, made about $109 million, the Journal reported, quoting the same document. MGM and Danjaq, Eon’s holding company, declined to comment to the Journal.

Sony’s take might be even less for SPECTRE, according to the newspaper.

In the same leaked document, a Sony executive projected that if “Spectre” were to cost $250 million to produce and repeat the same box office as “Skyfall,” Sony’s profit would be $38 million.

The budget for “Spectre” is just under $250 million, said a person close to the movie, compared with $209 million for “Skyfall.”

MGM and the Wilson-Broccoli clan co-own the Bond franchise. MGM got its share after it acquired United Artists in the early 1980s. UA, in turn, acquired its stake in Bond when Eon co-founder Harry Saltzman sold it in 1975 because of financial problems.

Despite the relatively small return, other studios are expected to seek to displace Sony as MGM’s 007 distributor.

“Here’s what we hear,” Deadline’s Anity Busch and Mike Fleming Jr. wrote. “007 rights gatekeepers (MGM CEO Gary) Barber, and Wilson and Broccoli, will wait until Spectre plays around the world and accumulates an ungodly global gross that will only strengthen their leverage. And then, early next year, they will make the best deal. If that means bidding farewell to Sony, so be it.”

The Deadline Hollywood story does some handicapping about the prospects for different studios striking a deal with MGM. Busch and Fleming, in particular, play up Warner Bros. as a 007 distribution contender.

The duo write “a source sighted” MGM’s Barber and Warners chief “Kevin Tsujihara at the Montage Hotel recently…According to our source, the chatter seemed more intense than a meet and greet. It looked like they were throwing around numbers. Not surprisingly, Warner Bros has been oft mentioned as the most aggressive in this hunt.”

To read the entire Wall Street Journal story, CLICK HERE. To read the Deadline: Hollywood story, CLICK HERE.

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2 Responses

  1. I hope is not Warner Bros.

  2. […] 25 percent of the profits. For the first billion-dollar Bond — Skyfall — Sony only got $57 million in profits while MGM made $175 […]

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