The first one, with a working title of "Bond 23," is set for worldwide release on November 9, 2012. With Daniel Craig playing 007 for a third time, it will mark the first Bond film since 2008's "Quantum of Solace."
As for "Bond 24," the studios said in a statement they "look forward" to partnering on the film on a similar basis.
Metro-Goldwyn-Mayer is emerging from bankruptcy and is now a leaner operation run by Hollywood producers Roger Birnbaum and Gary Barber. Its financial woes cast doubt on the viability of the storied Bond franchise, which has reliably been churning out spy sagas since 1962.
Sony and MGM previously partnered on "Quantum of Solace" and Craig's 2006 Bond debut "Casino Royale." Together the films grossed almost $1.2 billion at the worldwide box office.
MGM's new management reportedly negotiated a distribution pacts with other studios, including Viacom Inc's Paramount Pictures, but talks stalled on financials. A Sony spokesman declined to detail the terms of its arrangement "other than to say we feel the agreement is one that is beneficial to all."
As part of the Bond deal, Sony and MGM will "explore co-financing opportunities on future motion pictures produced by each of the respective studios for the next five years," according to a statement.
That component favors MGM, which has little in the production pipeline and is eager to get involved with existing projects to boost its cash flow. MGM has no releases scheduled for 2011. It recently announced it would co-finance Paramount's "Hansel and Gretel: Witch Hunters," a $60 million 3D film set for release in March 2012.
The Sony spokesman declined to confirm any titles on which they might work together. Sony Pictures is a unit of Sony Corp.
(Reporting by Dean Goodman; Editing by Jill Serjeant)
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