Santa Barbara-based hedge fund Pacificor has scored the rights to the future of the “Terminator” franchise for an impressive $29.5 million says Deadline Hollywood.
Halcyon Holding Corp put the rights on auction yesterday afternoon with previously competing bidders Sony Pictures and Lionsgate teaming after the initial round to try and win.
Neither party scored the property though with Pacificor, the debt holder which put Halcyon into filing Chapter 11, ultimately winning. The move effectively wipes out all of Halcyon’s debts though will depend on the bankruptcy court hearing later in the week.
Halcyon will still keep all future revenue generated from the third and fourth film in the series plus get a payment of $5 million for each and every subsequent “Terminator” film produced.