Sony & Lionsgate Duel For “Terminator” Rights

It’s Sony vs. Lionsgate in a bidding war for the rights to the “Terminator” franchise reports Variety.

As previously reported, Halcyon Group is putting the rights to future “Terminator” films, TV series, DVDs and merchandise on auction on Monday in Los Angeles, two days before a bankruptcy court hearing.

Last month Lionsgate was the first bidder with an offer of $15 million and a 5% cut of future gross receipts. Now apparently Sony put in a bid on Thursday, the final day for offer submissions.

Either way Lionsgate will walk away with something because if it doesn’t win it will receive $750,000 as a breakup fee from the winning bidder.