MGM OFFICIALLY BACK ON TRACK - BOND WON'T BE FAR BEHIND

"MGM is emerging from one of the most challenging periods of its storied history," Gary Barber and Roger Birnbaum, executives at MGM said in a media provided statement. "We are honoured and inspired at the opportunity of leading one of Hollywood's most iconic studios into its next generation."

However MGM said that its first batch of film, those already shot, will not see cinemas until 2012 which means that 2013 will be the earliest we will see the next James Bond movie. Will Daniel Craig reprise the role? Nobody seems to know but the actor's schedule for the next few years could rule him out if the film goes into production very soon as is expected.

Craig has already signed up for the Hollywood version of Steig Larsson's Millenium trilogy - the first of which is currently shooting. That other big MGM movie, The Hobbit will now start shooting in February and MGM are still sticking with a November 2012 release for the next Bond movie which seems to contradict the claims of 2013 for 007 to make his reappearance.

The one definite regarding 007 seems to be that Sam Mendes will direct.