The studio will take the reins for the 60-year-old movie property, while Michael G. Wilson and Barbara Broccoli will remain co-owners as they move to the sidelines as part of a joint venture transaction.

Michael G. Wilson and Barbara Broccoli will remain co-owners in a new joint venture with Amazon MGM that hands over the creative reins and control of all future production to the Jeff Bezos-founded company.

Amazon now has creative control over the James Bond franchise, the company announced Thursday, following reported tensions between the company and the series’ longtime producers, who disagreed with Amazon’s plans for the franchise.