The unheralded James Bond anniversary

Albert R. Broccoli (Illustration by Paul Baack)

Last month marked a notable anniversary of the James Bond film franchise, but it dealt with behind-the-scenes maneuvers.

In December 1992, Metro-Goldwyn-Mayer settled a lawsuit filed by Danjaq LLC, the parent company of Eon Productions. The legal fight had paralyzed the production of Bond films.

The dispute was related to a takeover of MGM by financier Giancarlo Parretti. Here’s an excerpt from a UPI story about the settlement.

The companies said the agreement settles the suit Danjaq filed in February 1991 against MGM and its former parent company, Pathe Communications Corp. Danjaq claimed in the suit that then-MGM owner Parretti had breached contracts with it by selling the rights to the Bond films to help finance his $1.4 billion purchase of the studio in late 1990 from Kirk Kerkorian.

This is how Albert R. Broccoli, the co-founder of Danjaq and Eon, described the situation leading up to the lawsuit in his autobiography When the Snow Melts.

We learned that our sixteen James Bond pictures were being sold off as part of Parretti’s cash-raising in order to clinch the purchase of MGM/UA. Moreover, it was clear — to us least — that these pictures were to be sold off at bargain-basement prices in a number of foreign TV and video licensing deals. The longer we looked at the fine print, the more our attorneys, Michael (G. Wilson) and me were convinced that not only an alleged breach of contract was involved. This was becoming a question of the virtual survival of James Bond…Our action was a matter of simple prudence…During the protracted lawsuits that arose from this situation we were forced to put James Bond on hold and carry on with our lives.

The legal settlement changed that. Much work would remain to relaunch the film series, such as hiring a director and writers. Still, the conclusion of the legal fight more than 30 years ago was a significant milestone.

Kirk Kerkorian, mogul who affected 007 films, dies

Kirk Kerkorian

Kirk Kerkorian, a business mogul whose ownership of Metro-Goldwyn-Mayer affected the James Bond film series, died Monday night at 98, according to obituaries in THE NEW YORK TIMES and THE WALL STREET JOURNAL.

Kerkorian bought and sold MGM three times between 1969 and 2004, according to the Journal’s obit. During his first stint as MGM’s owner, the studio acquired United Artists in 1981.

UA was the original studio that released the James Bond films produced by Eon Productions. UA ended up controlling half the franchise when Eon co-founder Harry Saltzman sold out in 1975 because of personal financial problems.

Eon’s relationship with MGM wasn’t as close as the one it enjoyed with UA. For one thing, MGM always seemed to be in the middle of financial restructurings that adversely affected the 007 film series.

Ted Turner bought MGM in the mid-1980s, a deal financed with debt, and ended up selling the studio back to Kerkorian while Turner kept MGM’s film library for his cable networks. That library ended up with Time Warner, the parent company of Warner Bros., after it acquired Turner’s company in the 1990s.

Kerkorian sold MGM again in 1990, this time to Italian financier Giancarlo Parretti. Eon in 1991 filed a lawsuit, objecting to television rights sales for the Bond films conducted under Parretti.

The lawsuit was a major reason the six-year hiatus for 007 movies between 1989 and 1995. A settlement was reached in 1993 (CLICK HERE to view a UPI.com story with details).

Still, the hiatus was a contributing factor to the end of Timothy Dalton’s two-picture reign as 007.

John Calley, a new UA executive, reportedly wanted to replace Dalton. Dalton announced he was leaving the role, paving the way for Pierce Brosnan to start a four-picture run as Bond from 1995 to 2002.

Kerkorian became MGM’s owner yet again in 1996, purchasing the studio from Credit Lyonnais, which had seized MGM from Parretti after a loan default.

Kerkorian sold MGM one last time in 2005, this time to a group that included Sony. But the group’s finances crumbled and MGM went into bankruptcy in 2010, a factor in the four-year gap between Bond movies from 2008 to 2012. This time, however, Daniel Craig remained in place as Bond after MGM exited bankruptcy and 007 production resumed with 2012’s Skyfall.