Sony Pictures & MGM ink worldwide theatrical distribution & co-financing pact

MUMBAI: MGM partners with Sony Pictures Entertainment to co-finance and theatrically market and distribute Bond 23 worldwide.

Sony will release the next film in this franchise on 9 November, 2012 throughout the world except for select international territories, where MGM will directly oversee distribution. Sony Pictures will co-financing and distribute Bond 24 on a similar basis.

Additionally, MGM and Sony Pictures have agreed to explore co-financing opportunities on future motion pictures produced by each of the respective studios for the next five years.

The two studios have collaborated directly and indirectly in recent years on numerous films, including Casino Royale, Quantum of Solace, 21, Yours, Mine and Ours, The Pink Panther, and the forthcoming Kevin James comedy Zookeeper.

Sony’s 2012 slate also includes Men in Black 3 and The Amazing Spider-Man, as well as I Hate You Dad, starring Adam Sandler, Here Comes the Boom starring Kevin James, 21 Jump Street, Resident Evil 5 and Total Recall.

“Sony Pictures is the ideal studio partner for us as MGM re-enters the filmmaking business. We have longstanding relationships with Michael and Amy and look forward to what promises to be a prosperous future together,” said MGM co-chairmen and CEOs Gary Barber and Roger Birnbaum.

Sony Pictures chairman and CEO Michael Lynton added, “In addition to working together on Bond, this deal expands our relationship with MGM as we explore co-financing opportunities on other high-profile projects. Gary and Roger are incredibly thoughtful and experienced leaders who are outstanding creative executives and respected moviemakers. While we are excited to be back in the Bond business, we also look forward to future collaborations and I am confident that this agreement will be long-term, lucrative, and beneficial to both studios.”

“After successfully working on the re-launch of the James Bond franchise with Casino Royale and Quantum of Solace, we could not be more proud or privileged to continue our association with Barbara Broccoli, Michael G. Wilson, Daniel Craig, and the talented teams at EON and MGM,” said Sony Pictures co-chairman Amy Pascal.

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