 In 1999 Sony paid MGM $5 million to settle the $40 million lawsuit  that MGM had brought against Sony over the Bond rights. The lawsuit  was filed because of Sonys intentions to remake Casino Royale. In  the settlement Sony agreed to hand over all of its rights to the  Bond character and Casino Royale. In an ironic twist of fate, Sony  bought MGM in 2005, and in 2006, released a new serious adaptation  of Casino Royale.