'Spectre': What You Need To Know About The New James Bond Film

The producers of the 007 franchise announced overnight that the 24th Bond flick -- the fourth starring Daniel Craig -- will be known as 'Spectre.'

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The title recalls the global terrorist group that appeared in the very first Bond film, 'Dr. No,' as well as novels by Ian Fleming. It is an acronym, at least in those old installments, for “Special Executive for Counter-intelligence, Terrorism, Revenge, and Extortion.”

The full cast of 'Spectre'. Photo: Sony Pictures Releasing

For the last month, Christoph Waltz has been rumoured to be joining the film as classic villain Blofeld, who happens to be the head of SPECTRE in the source material.

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Thursday’s announcement confirmed that he indeed will join the cast, but as a character named Oberhauser.

Bond's new Aston Martin was also unveiled at the announcement. Photo: Sony Pictures International

Worry not, classic Bond fans. This is a spy series after all, so that could be a code name or alter-ego.

The film, which will be helmed by 'Skyfall' director Sam Mendes, will bring back Ben Whishaw as Q, Naomie Harris as Moneypenny, and Ralph Fiennes as M.

Joining the returning characters are two new Bond girls, Léa Seydoux and Monica Bellucci. Bellucci takes on the role of Lucia Sciarra, and Seydoux as Madeleine Swann. Rumours of the pair's casting swirled for the last month.

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If all that news wasn't enough, here's the official plot synopsis: "A cryptic message from Bond's past sends him on a trail to uncover a sinister organisation. While M battles political forces to keep the secret service alive, Bond peels back the layers of deceit to reveal the terrible truth behind SPECTRE."

'Spectre' opens in local cinemas on November 19, 2015.

Jordan Zakarin writes for Yahoo Movies.