New Line Cinema (the studio that produces the Austin Powers movies) has been holding top-secret negotiations with MGM and United Artists (the studios that produce the James Bond movies) and anticipates obtaining authorization to use Austin Powers in Goldmember as the title for the latest Austin Powers movie, Variety reports.
Final permission must still come from the holders of the James Bond license, the Broccoli family, which has produced all of the Bond films.
While MGM and UA may have been at a loss to stop other spoof titles (such as Live and Let Shag, License to Shag and You Only Shag Thrice), they were still able to extract some concessions from New Line.
Reportedly, New Line will have to splice trailers of upcoming MGM films, including the new Bond flick Die Another Day, directly onto the reels of both Austin Powers in Goldmember and The Lord of the Rings: The Fellowship of the Ring. The cost to do so would be New Line's, and direct splicing allows MGM to distribute a second trailer for that film easily.
Austin Powers in Goldmember is scheduled to open in theaters on July 26.