Bond 23 suspended 'indefinitely'

007 grounded as MGM struggles

The producers of Daniel Craig's third outing as James Bond have suspended the production "indefinitely" due to "continuing uncertainty surrounding the future of MGM and the failure to close a sale of the studio".

According to the BBC, Michael Wilson and Barbara Broccoli of Eon Productions said they didn't know when work on Bond 23 would resume and had no release date for the movie. It had been due to hit the big screen in 2011 or 2012.

Daniel Craig said: "I have every confidence in Barbara and Michael's decision and look forward to production resuming as quickly as possible."

MGM is struggling with a $3.7bn debt which has led lenders to push for "either a sale of the company or a restructuring with an infusion of capital to remain a stand-alone operation", the Los Angeles Times explains. Among the offers on the table is a $1.5bn bid by Warner Bros, but it will be several weeks before a "resolution" of the studio's future. ®