Bond 21: According to The Hollywood Reporter, MGM, which is in the process of being sold to a group headed by Sony Corp., has insisted on a business-as-usual stance, but that business no longer involves the immediate production of a new James Bond movie.

The studio confirmed Wednesday that it has put the development of a new installment of its most important franchise on hold. As a result, the movie, which had been billed simply as "Bond 21" and was scheduled for release Nov. 21, 2005, will not be hitting theaters in its traditional November slot as originally planned.

According to an MGM spokesperson, the studio made the decision because it has not yet found a director for the film. Sources familiar with the situation said that the producers plan to meet next month to decide whether to aim for a summer 2006 or November 2006 release date.