Ronnita recently disclosed to you all the fact that MGM is in financial troubles. The iconic Hollywood company has over $3.5 billion in debt which, last time I checked, is a butt-load of debt. Despite their unbelievable amount of debt, MGM has managed to find a way to make its very bankable tent-pole film, THE HOBBIT, which you can learn more about HERE. They are all praying that THE HOBBIT breaks all kinds of box office records, ultimately bringing in loads of cash.

Unfortunately, by holding on to THE LORD OF THE RINGS franchise, MGM is having to dump all others. Now, if you know anything about MGM, then you probably know that they own the rights to one of the most popular and longest-running franchises of all time: Bond, James Bond. Well, it looks like things are going to change.

We Are Movie Geeks has gotten an unofficial word from a source that is “close to the dealings” that the Bond franchise has found a new home for its marketing and distribution. MGM (owned by Sony) will still be taking care of the production side of things, though. So, they aren’t completely out of the picture. Apparently, official word is to come out any day now that 20th Century Fox will be the folks behind marketing and distribution for the next James Bond film, which happens to be the 23rd film. That is one long-running tradition coming to an end.

Although MGM will have to now split the Bond spotlight with Fox, the partnership shouldn’t come as too much of a shock. Up until the last two Bond films (both starring Daniel Craig), which Sony headed, Fox was relied upon to take care of all of the home video and international marketing portions for MGM. So, like Bond the character, Bond the franchise has “gotten around.” MGM needs help right now, and it looks like they are getting it. I hope they are able to find some box office winners in their next couple of projects, beginning the long process of digging them out of their deep financial hole.

The next Bond film is still expected to be completed in time for a 2011 release.