With Halcyon Holdings having filed for bankruptcy, The Los Angeles Times reports that one option being heavily considered right now is to either partially or outright sell the rights to the “Terminator” franchise to bring the company out of insolvency.
Derek Anderson and Victor Kubicek’s Halcyon bought the rights to the “Terminator” franchise for $25 million in 2007 in order to produce this summer’s “Terminator Salvation”. However mixed critical reaction and weak box-office results have lead to no real plans to pursue further sequels or a new trilogy as originally considered.
Coupled with the recent cancellation of the TV spin-off “The Sarah Connor Chronicles”, many industry people are predicting that the franchise won’t see any new action until well into next decade.
Halycon have now hired the financial advisory firm FTI Capital Advisors to look into their options with the “Terminator” rights the company’s only real valuable asset. The company is in debt of several million to a Santa Barbara hedge fund named Pacificor, LLC. FTI’s managing director Kevin Shultz says “We’re going to be contacting a variety of studios and independent companies.”