Amazon’s takeover of the James Bond franchise has been branded ‘absolutely terrible news’ amid fears it will ‘diluted or exploited and possibly be turned into a TV series.

This week, it emerged that 007 franchise will no longer be in the hands of longtime producers Barbara Broccoli and Michael G Wilson – the daughter and stepson of Albert ‘Cubby’ Broccoli, who launched the film franchise in 1962.

The pair have handed over creative control over to Amazon MGM Studios – which was formed when Amazon bought Bond’s parent studio in 2022 – after 30 years.

And in the wake of the shock news, a source told The Sun that this is a ‘bad day for Bond’ amid the Broccoli family having reportedly ‘cut their losses’ as they’re unable to ‘work amicably’ with Amazon.

The insider shared: ‘Ultimately, it’s a bad day for Bond. The siblings have always been very protective of Bond’s image and would never have wanted it diluted or exploited like Amazon hopes to do.

‘This is absolutely terrible news. I don’t have high hopes. Amazon will want to exploit the name without putting in real quality, and the first thing to emerge will likely be a terrible TV series.’ 

Amazon’s takeover of the James Bond franchise has been branded ‘absolutely terrible news’ amid fears it will ‘diluted or exploited and possibly be turned into a TV series [Daniel Craig pictured]

This week, it emerged that 007 franchise will no longer be in the hands of longtime producers Barbara Broccoli and Michael G Wilson [pictured]

With reports of tensions among the Broccoli family and Amazon bosses, the publication notes that it remains ‘unclear’ just how ‘heavily their presence will be felt’ in future Bond projects.

However, vice president of the Ian Fleming Foundation Matthew Field warned that it would be ‘stupid’ of Amazon not to turn to them for advice. 

He shared: ‘No one on the planet understands Bond better than them – they probably know him better than Ian Fleming did. If Amazon puts the wrong people in control it will go badly wrong.’

Matthew suggested that a producer such as Marvel and DC’s James Gunn would be needed, who could ‘see, live and breathe the character’. 

MailOnline have contacted Amazon representatives for comment. 

When Amazon took over creative control of Bond, there was rife speculation that much-loved characters like Q, the quartermaster of MI6, and M, the head of MI6, would get their own shows.

However, not all fans were happy with the takeover as many shared fears that Bond will go the way of other iconic franchises that have been bought out by entertainment giants.

In 2012, Disney acquired Star Wars owner LucasFilm for £3.2billion and have since launched a raft of new origins movies, series, and animated spin-offs.

The pair [pictured with Daniel Craig] handed over creative control over to Amazon MGM Studios – which was formed when Amazon bought Bond’s parent studio in 2022 – after 30 years 

In the wake of the shock news, a source told The Sun this is a ‘bad day for Bond’ amid the Broccoli family reportedly ‘cutting their losses’ as they’re unable to ‘work amicably’ with Amazon

‘This is absolutely terrible news. I don’t have high hopes. Amazon will want to exploit the name without putting in real quality, and the first thing to emerge will likely be a terrible TV series’

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Some disgruntled Bond fans suggested that the Amazon takeover would lead to a loss in quality control and an endless stream of sequels. 

Comments included: ‘We used to get a (generally) good James Bond movie, but that’s out of the window now. Get ready for Young Q and 00 Origins: Trevelyan and other unwatchable Amazon Prime slop going forward’;

‘It’s kinda sad to see the last family-owned movie franchise handed over to the suits, and I’m sure Amazon MGM is salivating, BUT… DON’T cinematic universe James Bond. It is one of our last, great theatrical events. Don’t dilute that with a plethora of streaming spin-offs’;

‘James Bond the character gets blown into a million pieces to save his child, James Bond the franchise gets blown up into a million pieces to give Amazon content. It’s like poetry, they rhyme.’ 

Some fans highlighted Amazon’s takeover of the Lord of the Rings franchise, which has divided fans with many criticising it for not remaining faithful to JRR Tolkien’s source material. 

Producer Barbara has been viewed as a guardian of her father’s legacy and has dismissed the suggestion of major franchise changes in the past, such as a female Bond.

‘Bond is male,’ she said in 2018. ‘He’s a male character. He was written as a male and I think he’ll probably stay as a male.

‘And that’s fine. We don’t have to turn male characters into women. Let’s just create more female characters and make the story fit those female characters.’

With reports of tensions among the Broccoli family and Amazon bosses, the publication notes that it remains ‘unclear’ just how ‘heavily their presence will be felt’ in future Bond projects [Barbara Broccoli pictured] 

Some disgruntled Bond fans suggested that the Amazon takeover would lead to a loss in quality control and an endless stream of sequels (Roger Moore and Barbara Bach pictured) 

Amazon’s acquisition follows months of speculation that there were creative tensions at the top of the Bond franchise.

Amazon and the Broccolis were allegedly failing to agree on how to move forward with the movies, four years after Daniel Craig’s last outing as Bond in No Time to Die.

It was reported that Barbara, 64, had told friends she did not trust the online giant with the character and had characterised the status of the next Bond instalment in the dire terms: no script, no story and no new Bond.

In December, the Wall Street Journal claimed that Barbara had told friends of Amazon: ‘These people are f***ing idiots.’

Since the MGM acquisition for £5billion in 2022, Amazon has held rights to distribute all of the James Bond films, and MGM’s vast catalogue with more than 4,000 films and 17,000 TV shows.

Yet the family and the online giant, found by Jeff Bezos, could not agree on how best to move the iconic spy story forward.

Never have one family had such control over a movie franchise, and insiders said their 20th-century Hollywood vision on the big screen clashed with the technology giant’s vision led by data, algorithm and streaming subscriptions. 

And on Thursday, Barbara and Michael announced a new Amazon deal forming a new joint venture to house the movie property’s intellectual property rights.

Amazon and the Broccolis were allegedly failing to agree on how to move forward with the movies, four years after Daniel Craig’s last outing as Bond in No Time to Die (pictured) 

While the Broccoli family will remain as co-owners of the franchise, Amazon have taken over creative control under the new deal. 

Announcing his departure, Michael said: ‘With my 007 career spanning nearly 60 incredible years, I am stepping back from producing the James Bond films to focus on art and charitable projects.

‘Therefore, Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to lead James Bond into the future.’

While Barbara added: ‘My life has been dedicated to maintaining and building upon the extraordinary legacy that was handed to Michael and me by our father, producer Cubby Broccoli.’

‘I have had the honour of working closely with four of the tremendously talented actors who have played 007 and thousands of wonderful artists within the industry.

‘With the conclusion of No Time to Die and Michael retiring from the films, I feel it is time to focus on my other projects.’

Mike Hopkins, head of Prime Video and Amazon MGM Studios said in a statement: ‘We are grateful to the late Albert R. Broccoli and Harry Saltzman for bringing James Bond to movie theatres around the world, and to Michael G. Wilson and Barbara Broccoli for their unyielding dedication and their role in continuing the legacy of the franchise that is cherished by legions of fans worldwide.

‘We are honoured to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world.’