6 July 2010 1:22 PM, PDT | WeAreMovieGeeks.com | See recent WeAreMovieGeeks.com news »

ITN reported on the Bond film cancellation the morning of July 4th.

The new James Bond film, due for release by 2012, has been cancelled due to a cash crisis.

Production crew were told in April the £132 million blockbuster, starring Daniel Craig, had been postponed amid “financial problems” at debt ridden movie studio MGM, which co-funded the film.

The studio has now confirmed that filming of Bond 23 has been axed completely – and it could be years before the secret agent is back on the big screen.

American Beauty director Sam Mendes had been lined up to direct the twenty-third film in the franchise.

But production company Eon have confirmed in a statement: “We do not know when development will resume and cannot comment further at this stage.”

Source: ITN

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- Michelle McCue

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