Lionsgate Picking Up “Terminator” Rights

Lionsgate is looking to be the likely winner of rights to the “Terminator” film franchise thanks to a bid of $15 million in cash plus 5% of gross receipts from any future movies reports The Los Angeles Times.

Halcyon Group named Lionsgate the ‘stalking horse’ bidder in a federal bankruptcy court filing today. This means that any rival bidder will have to put in a bid worth at least $750,000 more by February 5th, otherwise the rights will likely go to Lionsgate pending a bankruptcy court hearing on February 10th.

Both Sony Pictures and Warner Bros. were interested in acquiring the rights as well and certainly have the funds to cover the additional cost, whether they will move on it though – we’ll see.