Studios Weighing Schemes To Capture James Bond

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Studios Weighing Schemes To Capture James Bond
Number Up?: Daniel Craig in ‘Spectre.’

As the new James Bond blockbuster, “Spectre,” blasts into theaters, Hollywood studios are preparing to battle for the rights to distribute future films in the franchise, a deal that amounts to a license to print money.

Sony Pictures Entertainment has had those rights for the last four 007 pictures, starting with 2006’s “Casino Royale,” but the Culver City studio’s deal expires after “Spectre.”

As rivals spy a lucrative opportunity, hanging on to Bond will be a big challenge for new motion picture group Chairman Tom Rothman, who replaced Amy Pascal after the North Korean hacking scandal.

Rothman has led a recent turnaround in box-office fortunes at Sony, with family films “Hotel Transylvania 2” and “Goosebumps” both topping the charts. But the studio remains starved of big global franchises compared with its competitors, which puts him under pressure to keep the company in the Bond business.

“It’s helpful for his studio to have a smash hit in terms of profile, press and profit and Sony has a strong hand in the upcoming rights negotiations having done an awesome job on Bond so far,” said Laura Martin, senior analyst for Needham & Co. in Los Angeles. “But 007 pictures are the rare films that don’t have risk, after having done huge business over the years, and that means there will be a lot of suitors.”

Up for grabs is a co-distribution deal with longtime distributor Metro-Goldwyn Mayer Pictures, a Beverly Hills mini-major that controls the rights to Bond in partnership with London’s Eon Productions.

An MGM spokesman declined to comment on future plans but made it clear the company has worked hand in hand with Sony on the “Spectre” rollout.

“Sony Pictures Entertainment, in partnership with MGM, will distribute ‘Spectre’ worldwide while MGM will directly distribute the film in select international territories and will handle all television distribution,” the spokesman said in an email.

Sony and Eon did not respond to interview requests.

Martin, the analyst, added that Sony can expect competition from most or all other major studios for 007, but negotiations will likely come down to economics. The winner, she said, might have to take a lower distribution fee than in past deals in order to claim the prize, given the hard-bargaining position a big hit would afford to Bond’s owners.

The possible end of the Sony partnership was referenced in emails unearthed as part of the North Korea hack.

As work began on the new movie, producer Barbara Broccoli of Eon emailed Pascal to say, “I can’t bear the idea of this being our last Bond together.”

Pascal replied that it didn’t have to be the end if Sony continued to do such a good job distributing the films.

“By the way, who else is gonna make such a one-sided deal with MGM,” added Pascal.

Likely suitors

Probable Bond suitors include Paramount Pictures Corp., Warner Bros. Entertainment Inc. and 21st Century Fox, which have all partnered with MGM on other recent projects. Incumbent co-distributor Sony reportedly has a 25 percent investment stake in “Spectre” plus undisclosed distribution fees.

According to a source familiar with the matter but not authorized to comment publicly, discussions on the next partnership will begin early next year when “Spectre” has ended its cinematic run and all the box-office numbers are tallied.

Those numbers are expected to be enormous according to West L.A. movie ticket retailer Fandango.

“‘Spectre’ is already pacing similarly to the previous Bond film, the big hit ‘Skyfall,’ in our advance ticket sales,” said Fandango managing editor Erik Davis. “The James Bond franchise shows no sign of ending its run anytime soon and continues to endure thanks to components that attract men and women, young and old.”

“Skyfall” became the most lucrative Bond film of all time, earning $1.1 billion worldwide.

The new movie was to open in the United States on Nov. 6 after a record-breaking U.K. debut Oct. 26 in which “Spectre” grossed $63.2 million in its first seven days of release. That broke the all-time British box-office record, which had been held by “Skyfall.”

The new film, which reportedly cost $250 million to produce and has received mostly positive reviews, is widely expected by analysts and industry experts to perform even better.

Whichever studio gets to partner on James Bond next might not get star Daniel Craig as part of the package, however. After an arduous shoot on “Spectre,” the English actor said in a recent interview with Time Out London that he had no interest in a fifth outing as the legendary spy.

Favorites to replace him include black British actor Idris Elba, who was mentioned in the Sony hack emails as a possible successor and the top choice of Pascal.

Needham’s Martin said that would be a risky move for the studio in charge.

“I wouldn’t tamper with the core business. I would keep James Bond as a white Brit and introduce in the next Bond film a sidekick character of a different race, 008 perhaps, and make a cheaper spin-off movie about the sidekick,” she said. “It’s just a safer way to do it.”

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