Creditors have officially approved the MGM restructuring plan that will put Spyglass Entertainment in charge of the studio, getting it moving once again. MGM will no longer be a distributor, but a working studio, which now puts James Bond 23 on the auction block and closer to an actual start date. Here is the official announcement from MGM:

"Metro-Goldwyn-Mayer Inc. ('MGM') today announced that the secured lenders voting in the Company's solicitation process have overwhelmingly approved its proposed plan of reorganization ('Plan'). MGM will now move expeditiously to implement that Plan, which will dramatically reduce its debt load and put the Company in a strong position to execute its business strategy. MGM is appreciative of the lenders' support."

It has been speculated by varying sources that with MGM back up and running, Sony Entertainment, the company that distributed the last two 007 adventures Casino Royale and Quantum of Solace, will announce their take over of the franchise. Deadline, on the other hand, tend to believe that James Bond 23 may go to Paramount, as they have a very close relationship with Spyglass and are currently working with them to produce Star Trek 2.

James Bond 23 may still be quite a ways away from actually happening, as star Daniel Craig is commited to three chapters in the Millennium Trilogy, starting with the currently in-production The Girl with the Dragon Tattoo. There is currently no talk of hiring someone else to play James Bond, but if Craig is to reprise the role a third time, we still won't see James Bond 23 until 2014 at the earliest.

B. Alan Orange