James Bond gets an early Christmas present

After more than a year of financial limbo MGM today announced that it was officially out of bankruptcy, and now has $500 million in place to start making movies again. This means that Bond 23 will likely get a greenlight sometime soon and the company can pay its share of The Hobbit budget which it is co-financing with Warner Bros.

The Hobbit has already been moving forward for a month or two now and is preparing for a February shoot, so it will be Daniel Craig and expected director Sam Mendes that will be most relieved by this news. MGM are aiming for a November 2012 release for Bond 23 so filming will likely begin next year.

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