Terminator rights sold
The auction is complete, the Terminator franchise rights are sold, and neither of the studios that were involved have won it. In fact the company who are the victors, as long as the bankruptcy court agrees the deal, is the very company that Halycon owed all the money to in the first place and who effectively forced them into bankruptcy in the first place.
There's more to the deal that makes you think this could all be some sort of conspiracy on a Wall Street insider deal plot line, but it's not, it's real life.
The rights sold for US $29.5 million, and at one point during the bidding Sony and Lionsgate pulled resources together and were still out bid by Pacificor, the hedge fund company who were effectively the ones who put Halcyon, the current Terminator rights holder, into this position in the first place. In fact Halcyon have an oustanding lawsuit against the company for extortion, bribery, and fraud for some US $30 million in damages. Now if that was successful and they've just paid out that amount of money for the franchise, then they'd surely be the next to fall.
Strangely though, Pacificor have allowed the debt that Halcyon owe them to be wiped out as part of the deal. It all seems rather confusing and very odd.
Still the rights have been sold, and if Pacificor have any funds left afterwards we may see a Terminator franchise start up again, under new management, again.
Deadline Hollywood Daily have the story that tells us more details of the deal, whereby Halcyon receive US $5 million for every Terminator film made in the future
It all seems a little bit, I don't know what the word is, but some might say convenient, odd, shady contrived even? It's certainly great that the company who put Halcyon in bankruptcy have secured the rights to the lucrative franchise over Sony and Lionsgate together.
I wonder if this means we'll see any Terminator film soon? Perhaps. Then again the deal still has to be decided in the courts, the Halcyon court case may have to be completed, and then Pacificor have to find studios willing to make the next film. A long way to go yet.