Movie studio MGM said the next James Bond movie will be released "within three years."
In a conference call with investors, MGM Chairman Gary Barber said "We are very excited about the franchise, we look forward to announcing a director soon," Reuters reported.
"We are currently developing the screenplay and working with our partners," Barber said.
Entertainment Weekly said director Sam Mendes announced he would not be signing on for the next Bond film.
Actor Daniel Craig, who starred in "Skyfall," has signed on for two more films but MGM did not officially confirm he will play the next 007.
That film has already grossed a record $1.1 billion.
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