The next instalment in the James Bond franchise has been suspended indefinitely due to the uncertainty over the future of movie studio MGM.
Daniel Craig was scheduled to reprise the 007 role for a third time in the 23rd Bond movie, which was scheduled for a 2011 or 2012 release date.
But filming has been thrown into chaos after the sale of famed media company MGM. The firm was put up for sale last year (09) after falling millions of dollars in debt.
Producers Michael Wilson and Barbara Broccoli have released a joint statement 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."
Craig adds, "I have every confidence in Barbara and Michael's decision and look forward to production resuming as quickly as possible."
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