PUTTING THE BREAKS ON BOND

Fans waiting for the next James Bond movie will have a long wait, if reports in the L A Times are to be believed - the producers of the James Bond franchise have put the brakes on developing and producing the next installment of the 007 spy series because of the ongoing drama plaguing the franchise's home studio, Metro-Goldwyn-Mayer Inc.

"Due to the continuing uncertainty surrounding the future of MGM and the failure to close a sale of the studio, we have suspended development of ‘Bond 23' indefinitely," producers Michael G. Wilson and Barbara Broccoli of Eon Productions said Monday. "We do not know when development will resume and do not have a date for the release of ‘Bond 23,'" which is the sequel to "Quantum of Solace," released by MGM's co-financing partner Sony Pictures in 2008.

The sequel was scheduled for release in late 2011 or in 2012 to coincide with the franchise's 50th anniversary. MGM had no official comment on the development. Saddled with $3.7 billion in debt, MGM's lenders have been pushing for either a sale of the company or a restructuring with an infusion of capital to remain a stand-alone operation.