The last thing we heard on Bond 23 was that it had been put on hold indefinitely due to MGM's financial problems. Director Sam Mendez (Road to Perdition) was attached to direct the film from script written by Peter Morgan (Frost/Nixon). Now it looks like the whole film has just been scrapped.
According to AICN and UK's Mirror Bond 23 is finished, which sucks! I've enjoyed the last two James Band films. I was really excited to see what Mendez and Morgan had in store for us! There was a lot of good talent involved. Harry Knowles had this to say,
Apparently all development on the next James Bond flick is dead. They've actually fucked MGM up so much that right now, they've canned development of a new James Bond film.
Mirror confirms this saying,
Members of the production crew have been told the Bond film has been canned. There is a lot of bad feeling as a lot of time, money and hard work has already gone into this.