Amazon has just taken creative control over the James Bond movie franchise via its MGM subsidiary. But what does that actually mean for 007?

The studio will take the reins for the 60-year-old movie property, while Michael G. Wilson and Barbara Broccoli will remain co-owners as they move to the sidelines as part of a joint venture transaction.

In a huge shakeup for the James Bond series, Amazon will take creative control as longtime producers Michael G. Wilson and Barbara Broccoli step back.