McG argues right to direct future TERMINATOR Sequels... Judge Disagrees! Sony and Lionsgate could produce and Distribute
Despite the shady dealings going on with the rights to the Terminator franchise, with Halcyon not selling to studio bidders, instead to Santa Barbara-based hedge fund Pacificor -- the same company that forced Halcyon into bankruptcy, and Halcyon had accused the company of extortion, bribery, and fraud and demanded $30M in damages -- there may be a rainbow at the end of this legal sh*t storm.
The LA Times reports that jointly bidding studios Lionsgate and Sony, the most competitive of the losing bidders, have been given "an exclusive window by Pacificor to negotiate to produce and distribute the next Terminator movie."
That sneaky hedge fund will own the rights and have pretty much all the say, while the studios do the heavy lifting -- funding, making and releasing the film -- and Pacificor knows it! Though there's sure to be some very bad blood, Sony and Lionsgate will likely bend to Pacifor's offer.
But there is one good thing that could come from this mayhem! We're talking really really good news for all the Terminator fans who hated what director McG did with Terminator Salvation.
An attorney representing McG argued that Pacificor and any producers it partners with should be forced to honor McG's right-of-first-refusal to direct future sequels, which was part of his deal with Halcyon. The judge disagreed and said that if McG isn't offered the opportunity to direct the next "Terminator" movie, his attorney can only file a claim against Halcyon in bankruptcy court.
McG has been quite vocal about directing at least two more Terminator films. So there McG, its not just fans saying you shouldn't direct the Terminator movies, an honorable Judge is banging down the gavel and saying you don't have the right to. So if McG does sue, we speculate along with /Film that Sony and Lionsgate would just throw him an executive producer credit and send him on his way.
What do you think of all the drama with the rights to TERMINATOR? What do you think of a Judge ruling that McG doesn't have a right to have first dibs on future sequels?