Daniel Craig

The 23rd film in the James Bond series has been delayed indefinitely due to the pending sale of debt-ridden MGM studios.

"Bond 23" was tentatively scheduled for a late 2011 or early 2012 release, but development on the film has now been halted. "We do not know when development will resume and do not have a date for the release of 'Bond 23,'" Michael G. Wilson and Barbara Broccoli of EON Productions said in a statement. EON has produced Bond films since 1962's Dr. No.

Sam Mendes in talks to direct next James Bond film

Mired in $3.7 billion of debt, MGM is currently taking bids from prospective buyers.

Calls to MGM were not immediately returned.

Filming on "Bond 23," which will see Daniel Craig return for his third go-around as 007, was previously set to start as early as June. Sam Mendes was in negotiations to direct the picture as of January.