‘James Bond’ new franchise owners reveal future of agent 007

James Bond franchise is set for production in London with a new approach after the new owners took over.

During the Cinema Con, Amazon MGM gave an update on the upcoming storyline of the new instalment.

"We are committed to honouring the legacy of this iconic character while bringing a fresh, exotic new chapter to audiences around the world alongside Amy [Pascal] and David [Heyman]," said the studio’s executives Courtenay Valenti and Sue Kroll.

Announcing that film is now in productions, they added, "They’re both in London getting started and couldn’t be here tonight, but we wanted to thank them for what we know to make an incredible partnership."

Earlier this year the original producers of the films, Michael G. Wilson and Barbara Broccoli, stepped back from the franchise and handed the creative control to Amazon MGM.

Soon Pascal and Heyman were tapped to produce the next Bond instalment.

"James Bond is one of the most iconic characters in the history of cinema," Pascal and Heyman said in a statement about their hiring.

"We are humbled to follow in the footsteps of Barbara Broccoli and Michael Wilson who made so many extraordinary films and honoured and excited to keep the spirit of Bond very much alive as he embarks on his next adventure," they added.