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Since 1962 there have been 22 James Bond movies, but a 23rd installment already under production may not see the light of day for awhile. As in Casino Royale and Quantum of Solace, James Bond was to be played by Daniel Craig, but recent developments at MGM studios are throwing a spanner into the works. MGM’s financial problems, including $3.7 billion (that’s 3,700,000,000 dollars) in debt have put a stop to all current and currently planned MGM projects. Even the reliable box office receipts for James Bond movies, worth $1.2 billion since Craig has been playing Bond, are not enough to keep production going right now.
If a buyer for MGM can be found, production will pick back up, but until that happens, it’s all on hold. One of the main problems is that a business that only makes movies, as MGM does, has a difficult time surviving compared to companies that have pursued multiple distribution deals. From the end of the silent movie era until the 1950s MGM was the granddaddy motion picture studio in Hollywood, feeding movie audiences’ desire to see all the glamour of Hollywood. MGM’s roster of stars included legends Joan Crawford and Clark Gable. MGM’s official motto may be “Ars Gratia Artis,” or “Art for Art’s Sake” may not be quite enough to keep the studio going unless some capital infusion takes place soon.