Amazon MGM is getting down to work on Bond.

Courtenay Valenti, head of Film, Streaming and Theatrical, and global marketing chief Sue Kroll, said tonight that producers Amy Pascal and David Heyman are currently in London moving forward with a new 007 at long last.

Valenti called the duo “filmmaking legends.” After paying up to gain creative control of the franchise, Amazon MGM recently brought them on to produce the next 007 installment.

“We are committed to honoring the legacy of this iconic character, while bringing a fresh, exhilarating new chapter to audiences around the world alongside Amy and David,” she said. “They are both in London getting started and couldn’t be here tonight, but we wanted to thank them for what we know will be an incredible partnership. Thank you, Amy and David!”

The big step forward on Bond was made possible by a deal in February with longtime James Bond producers and creative masters Michael G. Wilson and Barbara Broccoli, who relinquished control of the beloved spy franchise and handed the reins to the new owners.

Amazon acquired the studio in 2022 for $8.5 billion. That included all its IP. But the Bond franchise was unusual as it remained creatively the domain of Wilson and Broccoli, who had declined to move ahead on anything new since the merger.

The e-commerce giant paid out another $1 billion to gain creative control. As part of the deal, Amazon and the producers formed a new joint venture to house the Bond intellectual property rights, with Broccoli and Wilson remaining co-owners of the franchise.

The very pressing question mark remains the new James Bond himself. Despite years of wild speculation about who might replace Daniel Craig, there have been no substantive updates, although it now seems that will have to change.

The Bond update arrived at Amazon MGM’s debut at CinemaCon, the annual gathering of theater owners in Las Vegas. The studio is ramping up its theatrical slate to 16 films in 2027 and building out a global distribution arm.