James Bond 23 on hold

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The 23rd installment of the James Bond movie franchise, starring Daniel Craig and to be directed by Sam Mendes, is currently delayed indefinitely, announced EON Productions.

The postponement is a result of MGM, the film distributor, experiencing financial difficulties while attempting to sell the company and deal with massive debt.

The film was previously scheduled for release 2011/2012. The last Bond feature, a highlight in the MGM library, earned $586 million at the box office.

In the meantime Craig is busy with Steven Spielberg's The Adventures of Tintin and sci-fi western Cowboys and Aliens with co-stars Jon Favreau and Harrison Ford. He is next seen in the upcoming thriller Dream House with Rachel Weisz and Naomi Watts by director Jim Sheridan ( Brothers).