MUMBAI: MGM Studios has said that it expects to release the next James Bond film within three years. It also hopes to announce a new director who would replace Sam Mendes soon.

MGM Chairman and CEO Gary Barber stated that the studio was developing the screenplay for the 24th film in the James Bond series in the 50-year-old franchise about the British secret agent. "We are very excited about the franchise, we look forward to announcing a director soon," Barber has been quoted to have said.
 
"We are currently developing the screenplay and working with our partners. We look forward to developing the script soon and signing a director. We are hoping within the next 3 years it will be released," he added.

Though he gave no details on the casting of the film, Daniel Craig has already signed on for two more films in the lead role as the suave 007 agent.

Skyfall that starred Craig has made $1.1 billion at the global box office and impressed critics.