The James Bond franchise, coming off the steam of its Skyfall installment, will release the next 007 film within the next three years.

Skyfall, the 23rd Bond film, grossed over a billion dollars at the box office, and earned rave reviews and two Oscars along the way. Daniel Craig has played James Bond since 2006’s Casino Royale, having taken over for Pierce Brosnan and becoming the franchise's sixth agent. Between Casino Royale and Skyfall, he appeared in Quantum of Solace, which was the lowest grossing of his three appearances in the role. MGM CEO Harry Sloan revealed in 2007 that Craig signed on for the role until the 25th bond movie.

The Bond franchise typically releases a new installment every two years when the actor in the title role is determined to remain the same. Although there was a four-year pause in between Quantum of Solace and Skyfall due to MGM’s bankruptcy issues, another delayed premiere would be surprising. But, while avid Bond fans might begrudge the production company another long wait, the lengthy pause between the latest films may have been what allowed it to become such a quality finished product.

Sam Mendes, who directed the most lucrative Bond film to date, will not return to helm the next. MGM is reportedly planning to announce a name to direct the 24th film of the franchise in the near future. Hopefully the announcement comes sooner rather than later, and perhaps the movie will hit theaters earlier than anticipated.

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