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Sony Bids for TERMINATOR
Sony Pictures officially puts in bid for Terminator rights. By
Jarrod Sarafin
February 05, 2010
Source: Variety
A T-800 Terminator in a scene from Warner Bros. Pictures' action/sci-fi feature "Terminator Salvation," a Warner Bros. Pictures release. The film stars Christian Bale and Sam Worthington.
© Warner Bros. Pictures
Sony Pictures has officially entered the fray into bidding rights for the Terminator franchise. Variety reports the studio entered a submitting bid into the auction on Thursday, the final day available for submission before the auction begins on Monday.
Ever since last year, when the Halcyon Group announced their intention to sell the rights to property to help them through chapter 11 bankruptcy, reports surfaced that Sony Pictures were interested in taking over the distribution rights after being co-distributor with Warner Bros. for last year's Terminator Salvation.
If Sony hopes to win the rights from Monday's auction, the studio will have to beat out Lionsgate who entered the "stalking horse" bid earlier this month. Their bid was for $15 million and a 5% cut of future gross receipts. As the front-runner favorite for the auction, if Lionsgate doesn't win the auction next week the status mean they will receive $750,000 as a breakup fee from the winning bidder.
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, DVDs 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 Sony really wants it I don't see how Lionsgate can outbid them. Which kinda sucks because they'll probably keep McChicken on as the director and finish what was the start to a horrible new trilogy.