01/29/2002 AT 08:52 AM EST
It's a case of spy vs. spy. The James Bond people are unhappy with the Austin Powers people for naming their latest spoof "Goldmember," which, they claim, is a poke in the eye to the 1965 007 classic "Goldfinger." But, reports Reuters, New Line Cinema, which is producing the Mike Myers comedy (and which, like PEOPLE, is part of AOL Time Warner), vowed on Monday to work its mojo and appeal an industry arbitration panel ruling that forced the studio to withdraw some 11,000 movie trailers, posters and online promotions. The third installment of the spy comedy franchise is set to be released this July. Last week, the Motion Picture Association of America panel ruled that the title "Goldmember" was inadmissible, in response to a complaint by Metro Goldwyn Mayer Inc., home to Bond films, which claims the title infringes its copyright. MGM also objected to "Goldmember" promotional materials that satirize various Bond characters and posters. MGM vice chairman and CEO Chris McGurk said in a statement that the studio and the production company behind the Bond films, Danjac LLC, "have a zero-tolerance policy toward anyone who tries to trade on the James Bond franchise without authorization." Until the issue is settled -- an MPAA meeting to hear the appeal is set for Thursday -- New Line will refer to the movie in question as "the third installment of 'Austin Powers.' "