'No Time To Die' not for sale to OTTs
MGM maintains the film will release in theatres next year.
Recent rumours had suggested that No Time To Die, which brings back Daniel Craig as the iconic spy James Bond, was exploring a $600 million one-year licensing deal with an OTT platform but MGM, the studio behind the film, has now quashed all such reports saying the film is not for sale for direct digital release.
According to a piece in Bloomberg, streaming platforms including Netflix, Amazon and Apple, had been exploring the possibility of acquiring the film. It happened after the studio MGM and producer Barbara Broccoli decided to postpone No Time To Die again, and move it from its rescheduled November release date to April next year due to the ongoing pandemic.
MGM which has reportedly lost between $30 million and $50 million due to the delays, said, "We do not comment on rumours. The film is not for sale. The film's release has been postponed until April 2021 in order to preserve the theatrical experience for moviegoers".
Despite the clarification, multiple sources from rival companies claimed that a possible Bond sale was explored, and believe that MGM was open to the possibility of selling the film but at a hefty price.
The studio was said to be looking for a deal of roughly $600 million, which the streaming platforms were not ready to pay. For the makers, it cost over $250 million to produce the film.