Eon Productions, the company in charge of the James Bond franchise, has put the film on the shelf for the time being.
Development work on the project has been halted due to uncertainty about MGM’s future. The Metro-Goldwyn-Mayer Inc. studio is supposed to distribute the film, originally scheduled to be released in 2011 or 2012.
Eon producers Michael G. Wilson and Barbara Broccoli issued a press release saying: "Due to the continuing uncertainty surrounding the future of MGM and the failure to close a sale of the studio, we have suspended development on Bond 23 indefinitely. We do not know when development will resume and do not have a date for the release of Bond 23."
There have been 22 James Bond films released since 1962. Wilson and Broccoli have been in charge of the franchise since 1995. Before that, it was Albert Broccoli who produced the films.
Wilson and Broccoli are behind the most recent films starring Daniel Craig in the title role of Agent 007, Casino Royale and Quantum of Solace.
While fans are waiting to see Craig as James Bond, they can catch him in the thriller Dream House next year. He also plays Rackham le Rouge in The Adventures of Tintin: The Secret of the Unicorn that hits theatres on December 23, 2011.