According to Deadline, the deal is said to see the brothers serve as the "spiritual creative architects" for some of the iconic properties in the MGM library. The deal is expected to be a multi-picture non-exclusive creative partnership that would see the duo produce and co-produce numerous projects, including one feature starring actor Michael B. Jordan (Creed, Black Panther).
It was previously announced that Jordan was circling a "re-imagining" of The Thomas Crown Affair, which the actor would also produce through his Outlier Society banner. It now appears the film will be first up on the MGM deal for the Russo Brothers and AGBO Films. While they are currently only set as producers, the Russo Brothers could end up directing the feature from a script by Matthew Michael Carnahan (World War Z). Other films that could potentially be developed under this new deal include The Pink Panther, Poltergeist and It’s A Mad Mad Mad Mad World, with The Thomas Crown Affair being the only confirmed project thus far.
"MGM is focused on partnering with Hollywood’s premiere talent to bring amazing stories to life. Our partnership with AGBO demonstrates MGM’s focus on creating alliances with today’s most innovative and premiere storytellers," Chris Brearton, MGM's Chief Operating Officer, said in a statement. “Joe and Anthony’s track record speaks for itself and we look forward to working with their team to bring new and exciting projects to life on the big and small screens."
"This deal reflects the fundamental tenets upon which AGBO was built: a storytelling driven studio designed to develop and produce a complex array of narrative in an ever-evolving landscape," Joe Russo said. "Artist ownership is primary to our agenda, and we’ll be serving as partners on every film. It’s also an amazing opportunity for AGBO to work with MGM, which owns one of the greatest libraries in the world."
Next up for the Russo Brothers after Avengers: Endgame is a much-needed break from the Marvel Cinematic Universe, as the duo tackle an adaption of Cherry from author Nico Walker, starring Spider-Man actor Tom Holland.