Having officially filed for bankruptcy in preparation for its next phase of existence, MGM has begun making big plans for the return of James Bond reports Bloomberg.
The studio is apparently fully intent on shooting the next 007 film in the next two years with a release date of November 2012 already being targeted, and is reportedly planning to releasing a new 007 film at regular two year intervals after that (meaning 2014, 2016, 2018, etc.).
The studio will retain 50% of the rights to that next film, while an equal partner will cover all the production costs. Further Bond sequels will be fully owned and funded by MGM itself.
The other big question is whether Daniel Craig will reprise his role in the next film or if his commitment to all three installments of the Millennium Trilogy, currently in production on the first instalment "The Girl with the Dragon Tattoo", will lead to a new actor taking over the role and becoming the seventh official James Bond.
MGM has also estimated its total obligations to funding on "The Hobbit" films are $265 million to $275 million. $40 million of that it will play itself, the rest will be funded by a third party.