Bond 26 questions: The MGM shakeup edition

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Well, the first shoe has fallen after Amazon bought Metro-Goldwyn-Mayer for $8.45 billion. MGM’s top two film executives are leaving after Eon Productions said it wanted the duo to stay.

Naturally, the blog has questions.

Is this really unexpected?

No. Companies rarely spend billions of dollars to buy a company and just say, “We’re not going to make any changes.” Acquirers simply don’t do that. Ask the staff of CNN + after new owners pulled the plug on the new streaming service just a few weeks after completing the deal.

Are the departing MGM executives angry?

You couldn’t tell it by the statement that Michael De Luca and Pamela Abdy put out to their staff. Variety got a copy. It began thusly:

“A little over two years ago we came to MGM to help restore its vibrancy among the storied studios of the last century and we are proud to say, thanks to all of you and your efforts, it is mission accomplished.“

Are you a little skeptical?

In these situations, departing executives often get a buyout as long as they stay quiet or say nice things. Executives who get in trouble with a company’s board of directors suddenly find they have a hankering to retire, etc.

What does this mean for James Bond movies?

Hard to say for now. But Barbara Broccoli and Michael G. Wilson last year gave a statement to The New York Times that they really, really wanted De Luca and Abdy to stay. Presumably, they’re not happy this week with this development.

What should Bond fans watch out for?

Bond is one of MGM’s main assets. Amazon surely knows this. There is a Bond-themed reality show in the works (a sort of Bond version of The Amazing Race). Will there be other attempts to expand the franchise? We’ll see.

MGM film execs favored by Eon to depart studio, Variety says

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Two Metro-Goldwyn-Mayer film executives favored by Eon Productions are departing the studio, Variety reported.

Michael De Luca and Pamela Abdy, the top two executives in MGM’s film division, “have both been let go of the company,” the entertainment news outlet said. An excerpt:

De Luca had recently made overtures to David Zaslav about coming to Warner Bros. Discovery, according to an insider. The rumor mill has been swirling in recent weeks about the executives long-term future, with many predicting that he would be headed for the exit soon.

In July 2021, Eon’s Barbara Broccoli and Michael G. Wilson issued a statement to The New York Times after Amazon agreed to buy MGM. “Mike and Pam understand that we are at a critical juncture and that the continuing success of the James Bond series is dependent on us getting the next iteration right and will give us the support we need to do this.”

The statement quoted the Eon duo as saying, “Amazon has assured us that Bond will continue to debut” in movie theaters, according to the Times. “Our hope is that they will empower Mike and Pam to continue to run MGM unencumbered.” 

De Luca’s title was chairman of MGM’s motion picture group while Abdy was his deputy. Amazon already had its own film operation.

Executive changes are common after corporate acquisitions. Amazon’s $8.45 billion deal for MGM was announced last year and became final in March.

For Eon, the departure of De Luca and Abdy means the company that produces James Bond films will have yet another MGM executive team to deal with. It remains to be seen how this will affect the development of Bond 26. Actor Daniel Craig has exited the role of Bond after five movies from 2006 through 2021.