MGM cancels James Bond project

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By Marc Espino | July 7, 2010 4:06 PM EST

A lot of women will definitely be disappointed because they wouldn't be able to see Daniel Craig topless on an exotic beach wearing tiny swimming trunks as plans for the next James Bond have been stopped and the project is dead.

In April, it was announced that the project was on an indefinite hold, but the truth was the funds were insufficient for the film's production costs.

MGM has been looking for financial resources for James Bond 23 that was set to be directed by Sam Mendes and the script to be written by Peter Morgan, however, there weren't any developments.

Harry Knowles says that "apparently all development on the next James Bond flick is dead. They've actually f***ed MGM up so much that right now, they've canned development of a new James Bond film."

UK's Mirror confirms: "Members of the production crew have been told the Bond film has been canned. There is a lot of bad feeling as a lot of time, money and hard work has already gone into this."

The studio is said to be in a financial crisis, with $3.7 billion in debt, but will proceed with The Hobbit, which is still underway.

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