This week heralded a landmark moment for the James Bond franchise as Amazon MGM Studios struck a deal with the Broccoli family to assume creative control of it.

On Thursday (February 20), Amazon MGM Studios alongside Bond producers Michael Wilson and Barbara Broccoli announced their intention to form a joint venture to manage the James Bond intellectual property rights.

While the financial details remain under wraps, the transaction is slated for completion by year's end. Wilson, Barbara Broccoli's stepbrother, remarked: "With my 007 career spanning nearly 60 incredible years, I am stepping back from producing the James Bond films to focus on art and charitable projects. Therefore, Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to lead James Bond into the future."

The Broccoli dynasty has been at the helm of the Bond franchise for over six decades, retaining ultimate authority over pivotal production decisions including casting and directorial appointments.

This development follows Amazon's acquisition of MGM in 2022 for a colossal $8.45 billion (£6.7 billion), which included the distribution rights for all James Bond movies. The last Bond film, 'No Time To Die' released in 2021, concluded with Daniel Craig's iteration of the British spy meeting his demise.

Since then, rampant speculation has swirled regarding who will don the mantle of Bond after Craig's 15-year stint.

The announcement of Amazon acquiring the James Bond franchise has been met with vehement backlash from fans on social media, some of whom pronounced it the 'death' of the iconic franchise. One dismayed fan commented: "I guess No Time to Die really was the end of James Bond." Meanwhile, another fan illustrated their point by sharing a clip of Daniel Craig's Bond sinking in water, symbolising "the James Bond franchise".

A third lamented with: "R.I.P. James Bond franchise (1962-2025)," and yet another bemoaned this as the "end of an era".

The acquisition has drawn parallels to Disney's takeover of Star Wars, with critiques noting similarities. One person wrote: "Remember when George Lucas handed Star Wars over to Disney? That." Another predicted a grim future, speculating: "Star Wars used to feel like an event, and Disney has commodified it and stripped it of nearly everything that made it feel special. Amazon is going to do the same with James Bond. What was once a long-running, theatrical film franchise will now be stripped bare and commodified."

The Bond legacy, previously helmed for years by Albert "Cubby" Broccoli, later saw his daughter Barbara and stepson Michael G. Wilson preside over the cinematic institution, with Barbara having her first involvement in Pierce Brosnan's 'Goldeneye'.