End of era as family behind James Bond films step down

In a James Bond shake-up that stirred the film industry, Amazon MGM has announced that the studio has taken the creative reins of the 007 franchise after decades of family control.

Long-time Bond custodians Michael G Wilson and Barbara Broccoli said they would be stepping back.

Amazon MGM Studios, Wilson and Broccoli formed a new joint venture in which they will co-own James Bond intellectual property rights — but Amazon MGM will have creative control.

Financial terms weren't disclosed. The deal is expected to close sometime this year.

"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," Wilson said in a statement.

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

Amazon bought MGM Studios in 2022 for $US6.5 billion ($A10.2 billion), a purchase that was significantly motivated by the acquisition of one of the movies' most beloved and long-running franchises.

Since the Daniel Craig era of 007 concluded with 2021's No Time to Die, Broccoli and Wilson have reportedly clashed with Amazon MGM over the direction of Bond.

The announcement Thursday means that for the first time in the more than 50-year history of Bond, a Broccoli won't be greenlighting a new James Bond film. Amazon MGM also anticipates expanding the franchise beyond movies.

"We are grateful to the late Albert R Broccoli and Harry Saltzman for bringing James Bond to movie theatres around the world, and to Michael G Wilson and Barbara Broccoli for their unyielding dedication and their role in continuing the legacy of the franchise that is cherished by legions of fans worldwide," said Mike Hopkins, head of Prime Video and Amazon MGM Studios.

"We are honoured to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world."