Amazon MGM Studios has formed a joint venture with Michael G. Wilson and Barbara Broccoli to house the new James Bond intellectual property rights. The new venture gives Amazon MGM Studios full creative control of the beloved 007 franchise, however all parties will remain co-owners together.

As Amazon MGM gains control of the James Bond franchise, Michael G. Wilson and Barbara Broccoli are stepping back to focus on other projects.

In a new interview, Timothy Dalton, who played the infamous agent in “The Living Daylights” (1987) and “License to Kill” (1989), reacted to the news that Amazon MGM Studios gained creative control over the film franchise after producers Barbara Broccoli and Michael G. Wilson announced they would be taking a step back.