Sony Pictures Places Bid for TERMINATOR Franchise
It looks like Sony Pictures is interested in obtaining the rights to the Terminator franchise. They recently joined Lionsgate in the bidding on the rights to the popular franchise that went up for sale a few months. The studio submitted a bid on Thursday, which was the final day for submitting offers.
Last month Lionsgate came in as the first bidder for the rights to the Terminator franchise with a "stalking horse" or floor bid of $15 million and a 5% cut of future gross receipts.
Halcyon Group put the franchise up for sale in September. The auction for the assets--which include the rights to future "Terminator" movies, TV series, DVD's and merchandise -- will be held Monday at the offices of FTI Consulting in Los Angeles, followed by a bankruptcy court hearing two days later.
If Lionsgate doesn't win the auction, it will receive $750,000 as a breakup fee from the winning bidder.
We can only hope that whoever ends up with the rights doesn't bring McG back to direct any more films in the franchise.