Amazon's 'James Bond' deal could mean a new future for 007

This is one transaction that is shaken, not stirred. It was announced on Feb. 20 that a deal had been reached to give control of the "James Bond" film series to Amazon-MGM, likely opening the doors to a whole new future for Hollywood's most legendary spy. The agreement relinquishes control of the "Bond" IP from the longtime stewards of the franchise.

Ever since the most recent "Bond" actor, Daniel Craig, was killed off in 2021's "No Time to Die," the search has been on for a new actor to take up the role of 007. But giving control of "Bond" to one of the biggest companies in the world could have ripple effects throughout the film industry.

What are the deal's terms?

The deal was made between Amazon MGM and the Broccoli family, whose patriarch Albert Broccoli started the "Bond" film franchise 60 years ago. The two parties "formed a new joint venture to house the 'James Bond' intellectual property rights," under which "Amazon MGM Studios will gain creative control of the 'James Bond' franchise," Amazon MGM said in a press release.

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This marks the end of a longstanding wrestling match between the parties. "Bond" was originally owned by MGM, which was "acquired by Amazon in 2022," said NPR. At that time, Albert Broccoli's daughter Barbara Broccoli and her stepson Michael Wilson said they "would retain creative control of the films through their own production company, Eon." But with this deal, they are "stepping down from their creative roles and allowing the new home of the 'Bond' franchise to take the lead."

What does this deal mean for 'Bond'?

This marks the biggest change in the history of the "Bond" franchise. Broccoli and her stepson had "extraordinary control over the 'Bond' franchise, personally steering the films" in certain directions, said IndieWire. More than anything, they were the "arbiters of 'what is a James Bond film,' navigating Bond's post-Cold War reinvention with Pierce Brosnan in the '90s and selecting Daniel Craig as his replacement in 2005."

But now Amazon and its owner, Jeff Bezos, are at the helm, and "fan reaction — including this one — is mixed," said IndieWire. There is the "possibility of more 'Bond' projects than ever. But at what cost?" It is "hard not to think that Bond has sold out," given that for the Broccolis, each "'Bond' film was a bespoke product of a family business." Of course, this may have also "limited the potential for new takes on 'Bond,'" the outlet added.

Such limits on "Bond" may no longer exist; the deal is part of the "transition from movies to content, from curated popcorn to popcorn sold by the yard," said Variety. The "seismic nature of the 'Bond' news today marks that transition as a cultural done deal." There is now potential, too, for the franchise to be spun off into a larger saga — with films that are released much more often.

Amazon and Bezos apparently wanted the "Bond" IP so badly that they paid a lofty sum; Amazon purchased MGM for $8.5 billion in 2022, but it "took another $1 billion to ensure that they could fully steer and exploit" the "Bond" franchise, said Deadline. Amazon probably has a "desire to expand the 'James Bond' franchise into its own universe akin to Marvel or Star Wars," creating a new era of spy films.