6 July 2010 10:32 AM, PDT | Cinematical | See recent Cinematical news »

Yesterday I posted some news about Ian McKellen potentially bowing out of The Hobbit. The main reason behind that was due to the fact that the film is essentially in limbo because MGM is in a giant financial mess. Today's story indicates that their money woes are reaching critical mass.

AICN is reporting that apparently all development on the latest James Bond film has been stopped and the project is dead -- this coming after an announcement back in April that the production was on indefinite hold. If the studio can't get a Bond film directed by Sam Mendes and written by Frost/Nixon scribe Peter Morgan off the ground, then things seem very dire indeed. That would make two huge films guaranteed to make money -- three if you factor in that The Hobbit is going to be told in two parts -- that the company appears to be incapable of making. »

- Alison Nastasi

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