The next chapter in the James Bond saga has finally received a release date, according to The Hollywood Reporter. According to Michael G. Wilson and Barbara Broccoli of EON Productions as well as MGM, the film, simply known as Bond 23, will go into production late 2011 and have a release date of November 9, 2012.

The action-adventure film has had some trouble financially after MGM filed bankruptcy last year. The studio has stated that new Bond movies may be released every second year after Bond 23, and the studio aims to own 50 percent of the film. While an equal partner will pay all production costs for Bond 23, the studio will pay for and own 100 percent of their Bond films afterward, according to Bloomberg. The equal partner has yet to be announced; MGM is currently looking at studios such as Paramount and Sony to help pay for the production costs.

The film will be directed by Sam Mendes (American Beauty, Revolutionary Road) and will have Daniel Craig reprise his role as the legendary British secret agent. The screenplay has been written by Bond screenwriters Neal Purvis, Robert Wade, and John Logan (Any Given Sunday, The Last Samurai, Sweeney Todd).