MGM says moving NTTD to April was best move

Metro-Goldwyn-Mayer management said this week that moving No Time to Die’s release to April 2021 was the best move amid the continuing COVID-19 pandemic.

The shift “was not a decision we made lightly but was absolutely the right choice,” Christopher Brearton, MGM’s chief operating officer, said on a call with investors.

Moving the 25th James Bond movie to 2021 “best preserves and enhances its value,” he said.

Kenneth Kay, MGM’s chief financial officer, said studio management expects No Time to Die to “generate significant cash flow and earnings starting in the second quarter of 2021.”

Last month, there were multiple reports that MGM was considering proposals from streaming services, including Apple Plus, run by Apple Inc., for a one-year license to show No Time to Die. MGM’s only public comment was No Time to Die was not for sale.

During the call’s question and answer session, there were no queries abut those reports.

MGM management’s theme in the call was that better days are ahead for the studio. “We believe we have only scratched the surface of what we can achieve,” Brearton said.

MGM and Danjaq LLC, the parent company of Eon Productions, control the James Bond film franchise.