United Kingdom, Feb. 20 -- Amazon MGM Studios are taking creative control of the James Bond franchise.

Producers Michael G. Wilson and Barbara Broccoli made a shock announcement on Thursday (20.02.25) to say they are stepping back from the film series, but have formed a new joint venture with the studio to house James Bond's intellectual property rights, with all three parties remaining co-owners of the franchise.

Michael said in a statement: "With my 007 career spanning nearly 60 incredible years, I am stepping back from producing the James Bond films to focus on art and charitable projects.

"Therefore, Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to lead James Bond into the future"

Barbara added: "My ...