Lionsgate buying Terminator?
News has arrived that in some documents Halcyon Group filed in a federal bankruptcy court regarding their breakup, the Lionsgate studio has placed a bid for the Terminator franchise of US $15 million with a 5% cut of takings for the future. So far, that's the only bid, but what this does do is open things up for the other studios, now they know how much Lionsgate has bid, there's an opening to out bid them.
Of course if they don't that means that Lionsgate get the Terminator franchise, and for me, as a fan of the series, that's rather worrying.
For the closing paragraph of the story from Variety says it all:
For Lionsgate, winning the "Terminator" auction would give the mini-major another franchise to go along with its "Saw" and Tyler Perry pic series.
Terminator becomes their next Saw, and that means bleeding it dry, running it into the ground, and repeating the same thing again and again.
I don't quite understand the deal, not helped by the pigeon English that Variety employs, but it seems as though Lionsgate has put their bid in early, and that no other studio is allowed to start bidding until February the 4th, four days later on the 8th the actual auction takes place. Confused? Me too.
It would seem that if any other studio wants the franchise they'll have to go to over US $500,000 that amount, and that's a fair leap, and that the bidding is to take place in increments of $1 million. Okay, that means that no one can go over by $500,000, they have to go over by a $1 million. I think there's something wrong with their maths as well as their English.
To add to the complications it seems that if Lionsgate don't win the bidding they are paid $750,000 for the trouble. I'm really confused now. Seems a great way for them to make money, in fact you might think they should try and lose the bidding war just to get the quick pay out.
If Lionsgate wins though, that would give them the rights to the entire franchise, from films, television series through to DVD, Blu-ray and merchandise.
You've got to wonder what's happening with this franchise though, each film is making money, even if it does cost a lot to make, but the history of the franchise has a number of blips like this, and a previous bankruptcy from the company behind it.
Whoever gets it is onto a winner, but the problem is will they put enough heart and passion behind it. I'm concerned that Lionsgate go for the quick cash return and we say goodbye to the franchise that did show some positive hope with Terminator Salvation (Filmstalker review).