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With the future of MGM still uncertain, James Bond producers Michael G Wilson and Barbara Broccoli have suspended development on the next James Bond film previously scheduled for release 2011/2012.

"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," stated Michael G Wilson and Barbara Broccoli jointly.

More after the jump:

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While the next Bond may be delayed for now, the franchise is one of the crown jewels of the MGM library and whoever ends up getting control of the studio will obviously move forward with the next installment the day after the paperwork is signed.  After all, the last Bond film cost $200 million and it made $586 million at the worldwide box office.

Also, while the project may be delayed indefinitely, back in June of last year we reported Peter Morgan (Frost/Nixon, The Queen), Neal Purvis and Robert Wade (Quantum of Solace, Casino Royale) would be the screenwriters of the next film.  What that means is... producers Michael G Wilson and Barbara Broccoli must have at least a few drafts of the next Bond screenplay and once the MGM sale is completed, it shouldn't be too hard to move the project in front of the cameras.

What is most interesting about the delay is what director Sam Mendes is going to do.  He was originally attached to direct Preacher, but then he moved over to Bond.  I wonder if he'll go back to that project or venture onto something completely new...

More as we get it.

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