The broad strokes of the deal state that the streaming production powerhouse “will gain creative control of the James Bond franchise,” thanks to a new joint venture. Addressing the decision in Amazon’s press release announcing the deal, producer Michael G. Wilson had this to say:

Amazon will now control who will play 007, who will write the next script, and when the film goes into production—three critical pieces that had been held up by a yearslong stalemate.

Amazon MGM Studios, Michael G. Wilson, and Barbara Broccoli have have formed a new joint venture to house the James Bond intellectual property rights. The three parties will remain co-owners of the franchise.