Amazon MGM Studios, Michael G. Wilson and Barbara Broccoli have formed a new joint venture to house the James Bond IP rights, under which Wilson and Broccoli will cede creative control of the franchise to Amazon.

In a James Bond shakeup that stirred the film industry, MGM Amazon announced that the studio has taken the creative reins of the 007 franchise after decades of family control.

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.

Amazon MGM Studios is set to take creative ... The film series began with 1962's "Dr. No" under the stewardship of Albert R. Broccoli, Barbara's father, and Harry Saltzman. 'I didn't feel I ...

Amazon MGM said it looks "forward to ushering in the next phase of the legendary 007 for audiences around the world.” What do you think? Do you agree Amazon MGM should have creative control over 007?

The studio will take the reins for the 60 year-old movie property, while Michael G. Wilson and Barbara Broccoli will remain co-owners as they move to the sidelines as part of a joint venture transaction.