The follow-up to the James Bond adventure ‘Quantum of Solace’ has been put on hold because of the uncertainty surrounding MGM studios.

Work on the 23rd Bond movie, which would have seen Daniel Craig once again playing the suave superspy, has been postponed, with the franchise’s producers Michael Wilson and Barbara Broccoli, releasing the following statement: "Due to the continuing uncertainty surrounding the future of MGM and the failure to close a sale of the studio, we have suspended development on Bond 23 indefinitely.

Craig added, “I have every confidence in Barbara and Michael's decision and look forward to production resuming as quickly as possible."

The movie, which has Sam Mendes listed as a director, was set to be released next year.