MUMBAI: MGM is nearing a deal with Sony Pictures to release its 23rd James Bond film after its talks with Paramount broke down, it is understood.

Paramount declined to go below a 8 per cent distribution fee for the Bond film and also rebuffed MGM‘s request to partner on one of its summer films like the instalment of Transformers that is due to release on 1 July and J.J. Abrams and Steven Spielberg‘s Super 8.

MGM was hoping to convince Fox to renew its video deal with Fox Home Entertainment, that expires later this year. But it looks like Fox is disinterested in extending that agreement without the Bond film.

While it looks like that Sony has met MGM‘s terms, it is unclear which of its upcoming films, it will share with the lion.

The next Bond film starring Daniel Craig will be directed by Sam Mendes with a targeted 9 November, 2012 release.