Was it good??? Well it’s useless now!

The rights to the the Terminator franchise will be up for bid later this month. Though the auction does not cover previous Terminator films, the buyer will have the ability to make new Terminator movies, television programs and other spin-offs that build on the popularity of the franchise.

Terminator is a rare example of a blockbuster film franchise not controlled by a big studio. The rights have changed hands several times in it’s history, most recently being sold to Halcyon for $25m two years ago by Mario Kassar(producer of Terminator 2: Judgement Day). Halcyon is the production company behind the latest installment of the series, Terminator: Salvation– the critically bashed McG directed pic which grossed $380 million worldwide. The company has appointed FTI Capital Advisors to conduct the sale, as it seeks bankruptcy protection. Halcyon filed for Chapter 11 after a dispute with Pacificor, the hedge fund that lent Halcyon funds to buy the rights from Kassar.

FT reports that Sony Pictures is the biggest interested contender, with Summit Entertainment and Media Rights Capital also tracking the sale.

The deal is significant, as it is sure to test the value of Hollywood intellectual property when film industry profits are under pressure from falling DVD sales. The auction comes weeks after Nickelodeon acquired the rights to Teenage Mutant Ninja Turtles for $60m. The price tag of the Terminator rights will likely exceed that. Kevin Shultz, senior managing director at FTI, points to that purchase and explained:

We have a property that has made three times the box office [takings of the TMNT films].

I’m excited for some TMNT films. I could care less about Terminator right now, but I’d hope to see another TV series before we get another film. I can still here the cries from fans of FOX’s canned Sarah Connor Chronicles. But I’m sure it would be a profitable investment, just don’t let McG direct another one.

What do you think of the Terminator rights going up for auction? And who do you think should buy them?

Source: FinancialTimes