Sony who are currently milking every last cent out of the new James Bond release “Quantum of Solace” has been dumped by its partners in the lucrative 007 Bond franchise MGM and are now on the hunt for a new hero.
Currently Sony Australia is using the launch of the new James Bond movie as a key marketing tool in an effort to pull through sales of their Bravia TV range and for every $50 spent on participating Sony products consumers will have the opportunity to win one of seven Bond-style adventures claim Sony.
The new Sony backed movie “Quantum of Solace” which was released in Australia at the weekend took $67.5-million in the US in its first weekend and has already racked up $250 million in overseas ticket sales. It cost $180 million to make. The dumping of Sony by their partners in the movie franchise comes as bittersweet news for Sony Pictures who co-financed the $180-million-budget picture with MGM.
According to the Los Angeles Times Sony as part of its equity investment in MGM in 2005 inherited the right to co-finance and distribute MGM’s Bond movies. Sony made a killing on the first of those releases, “Casino Royale,” which grossed nearly $600 million worldwide at the box office alone. Because Sony put up 75% of the film’s $150-million budget, it received an even bigger cut of the profit than MGM. A person familiar with the matter said the film made $150 million-plus, of which Sony walked off with more than $100 million.
But, by the time “Casino Royale” was released in 2006, the partnership between Sony and MGM had imploded. MGM’s board voted unanimously to dump Sony as the domestic distributor of its DVDs after the studio failed to meet certain performance targets. With that move, Sony was also forced to forfeit its claim to the coveted Bond franchise. In its separation agreement, Sony negotiated to participate in one final Bond movie, “Quantum of Solace.”
Now Sony is desperately looking for a new hero according to Hollywood insiders. One of them could be “Flash Gordon” or even “Spider Man” with Sony set to launch another sequel soon.
On the other hand MGM is struggling and if Sony has the cash they could well end up owning the film studio out right say some financial analysts.
