After much talk and posturing over the future of "The Terminator" franchise in recent years, something surprising has happened - producers Mario Kassar and Andy Vajna have given up their baby.

The Halcyon Co. has acquired the franchise rights to the popular "The Terminator" movie series and intend to make a new trilogy that would anchor their movie company.

"Terminator 4" will be based on a script by John Brancato and Michael Ferris ("Terminator 3"), and Halcyon plans to immediately begin preproduction on the film with the hope of a Summer 2009 release.

Neither creator James Cameron or original star Arnold Schwarzenegger will be involved in the project, which picks up with John Connor in his 30s leading what's left of the human race against the machines.

The deal includes the right to produce any future "Terminator" projects in any format (film, TV, etc.). It also includes all future merchandising and licensing rights, and certain rights to the upcoming TV series "The Sarah Connor Chronicles."