The big screen adventures of James Bond are on hold because of the financial woes of MGM, the studio that distributes the movies, producers said.
The 23rd Bond film was in pre-production for a release next year.
"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," producers Michael Wilson and Barbara Broccoli said in a joint statement. "We do not know when development will resume and do not have a date for the release of BOND 23."
MGM has been on the brink of bankruptcy as it works with creditors to find a new owner.
The James Bond series is the longest running film franchise in history, with the first movie about the world's most famous fictional spy - "Dr. No" - released in 1962.
The movie franchise and merchandising is controlled by EON Productions. Wilson and Broccoli took over the 007 franchise from Albert "Cubby" Broccoli in 1995.