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Bond 23Diamonds may be forever, but the future of James Bond is looking a little grim.

According to a press release, producers Michael G Wilson and Barbara Broccoli of EON Productions announced today that production on the latest Bond film -- the 23rd in the longrunning saga -- has been suspended indefinitely "due to the continuing uncertainty surrounding the future of MGM and the failure to close a sale of the studio."

"We do not know when development will resume and do not have a date for the release of BOND 23," they added, according to a statement.

The film was initially on track for a 2011/2012 release. Bond 23Diamonds may be forever, but the future of James Bond is looking a little grim.

According to a press release, producers Michael G Wilson and Barbara Broccoli of EON Productions announced today that production on the latest Bond film -- the 23rd in the longrunning saga -- has been suspended indefinitely "due to the continuing uncertainty surrounding the future of MGM and the failure to close a sale of the studio."

"We do not know when development will resume and do not have a date for the release of BOND 23," they added, according to a statement.

The film was initially on track for a 2011/2012 release.

As we reported in January, Oscar-winning director Sam Mendes ('American Beauty,' 'Revolutionary Road') is attached to direct the film, from a script by Neal Purvis, Robert Wade and Oscar nominee Peter Morgan ('The Queen,' 'Frost/Nixon'). Daniel Craig will once again star as the titular character -- once the project gets off the ground, anyway.

No word yet on how the delay will affect their schedules.

The last two Bond movies, 'Casino Royale' (2006) and 'Quantum of Solace,' took in $167 and $168 million, respectively, at the domestic box office.