Sony, Lionsgate bid for Terminator (update x2: SOLD, and…)

Have 15 million or so you don’t know what to do with? You too could own your very own (slightly ailing) science fiction franchise!

Not really. According to Variety, Sony has entered the bidding war over the Terminator franchise, joining Lionsgate who started things off last month with a floor bid of the aforementioned 15 million, and 5% of future receipts.The final day to submit offers was Thursday, and the “auction for the assets of the series, including rights to future films, DVD sales, TV series, and merchandise, will be held Monday.”

Halcyon Group, which bought the franchise in 2007 for 30 million, put it up for sale in September. The group filed for Chapter 11 after the purchase a result of a feud with the hedge fund which backed the purchase.

No matter the outcome, it looks like Lionsgate walks away at least partially a winner, as they’re guaranteed a $750,000 “break-up” fee from the winning bidder.

Terminator: Salvation, the fourth film in the series, was released this past year, pulling in about $372 million worldwide from a $200 million production budget. It’s widely regarded as a flop, however, because its domestic haul was only $125 million.

UPDATE (2/9): Going, going… GONE, for $29.5 million plus a flat $5 million for every Terminator film made by its new owners. And the winner is… not Sony, not Lionsgate, but Pacificor?! Pacificor is a hedge fund company that bankrolled Halcyon through its ownership — and was previously accused by Halcyon of “extortion, bribery, and fraud.” Weird.

Pacificor, for its part, intends for “”a complete re-boot, back to basics, with real emotional stories, and effects that will be secondary.” (Source: Deadline Hollywood)

UPDATE #2: Coming Soon has added an unsourced caveat to this latest news — namely that spurned bidders, Sony Pictures and Lionsgate Films “are now in talks with Pacificor to jointly take control of the property, considering Pacificor has no experience in film production or distribution” (emphasis added).

Related Post: Trailer Watch: Second full Terminator: Salvation Trailer

Posted on February 5, 2010 at 18:27 by Lincoln Eddy · Permalink
In: News · Tagged with: , , ,

One Response

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  1. Written by arkonbey
    on 2010-02-07 at 05:19
    Permalink

    Oh, yes the last two Terminator films were So good that the franchise should continue!

    Insert standard “Why can't Hollywood create something at least slightly new” rant.

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