Los Angeles, Jan 12 (Agencies): James Bond's 23rd outing will be released in November 2012 where Hollywood star Daniel Craig is returning as 007.

MGM, which had put the franchise on hold following bankruptcy troubles in April last year, announced the revival of the franchise with longtime producers James Bond stewards Michael G Wilson and Barbara Broccoli of EON Productions.

Tentatively titled 'Bond 23', the movie will go into production in late 2011. Director Sam Mendes, of 'The Revolutionary Road' fame, is directing.

The script was written by Neal Purvis, Robert Wade and John Logan, the Hollywood Reporter said.
Several studios are courting MGM to release their movies, including Bond 23, with Sony and Paramount as the leading contenders.

Paramount is looking to secure on overall output deal with the company.