Variety has learned exclusively that the ceremony will perform a special tribute of the iconic songs of the James Bond franchise at Sunday’s Academy Awards in honor of longtime producers Barbara Broccoli and Michael G. Wilson, who received Hon orary Oscars at the past Governors Awards. The Academy declined to comment.

Amazon MGM Studios, Michael G. Wilson, and Barbara Broccoli today announced that they have formed a new joint venture to house James Bond.

The Oscars tribute arrives at a pivotal moment for the James Bond franchise. At the recent Governors Awards, producers Barbara Broccoli and Michael G. Wilson were presented with the Irving G. Thalberg Memorial Award, recognizing their long-standing commitment to cinematic excellence.

In news that will surely send shock waves through the industry, Michael G. Wilson and Barbara Broccoli are longtime producers of the James Bond franchise are stepping back in the creative process and handing over control to Amazon MGM Studios.

The Oscars are ready to toast the celebration with a martini — shaken, not stirred. Variety has learned exclusively that the ceremony will perform a special tribute of the iconic songs of the James Bond franchise at Sunday’s Academy Awards in honor of longtime producers Barbara Broccoli and Michael G.