The studio will take the reins for the 60-year-old movie property, while Michael G. Wilson and Barbara Broccoli will remain co-owners as they move to the sidelines as part of a joint venture transaction.

A landmark James Bond deal between the Broccoli family and Amazon MGM has reshaped the course of cinema's most enduring franchise.

The broad strokes of the deal state that the streaming production powerhouse “will gain creative control of the James Bond franchise,” thanks to a new joint venture. Addressing the decision in Amazon’s press release announcing the deal, producer Michael G. Wilson had this to say: