Terminator franchise on sale again
It seems crazy to me, but if a bankrupt company is forced to sell assets through the courts and it has a number of buyers it would undoubtedly sell to the highest bidder to recoup the losses. Well that never happened as we heard some time back.
What's more it seems that the cheaper buyer, the company who the original rights owners claimed helped make it bankrupt in the first place, are now looking to sell the rights themselves.
Yes, it does seem daft, and perhaps more like a Hollywood conspiracy film than anything else, but Pacificor, the hedge fund company who financed Halcyon and then pulled the plug on the company after Terminator: Salvation (Filmstalker review) was released, are now looking for a buyer for the Terminator franchise rights that they now own after their cheaper bid won in the rights auction.
Seems very strange when the other bid came from a joint Columbia and Lionsgate offer, you know, two film studios who actually make movies and were set to make three films, two of which would earn millions for Halcyon and the bankrupt estate.
However the courts gave the rights to the franchise to the bid that was, according to The Hollywood Reporter, some US $6.1 million lower, and since they aren't a film studio there was no chance that they were going to make any films from the franchise. Strange then that they promised US $5 million for each future Terminator sequel, especially when they are selling the rights.
It seems rather crazy. The opening line from the article states:
California hedge fund Pacificor on Thursday said it has retained WME to represent it in the sale of all rights to the "Terminator" franchise.
Well that says it all. If they are selling all the rights how can they pay US $5 million per film made when they won't be getting from them?
You have to wonder what the courts were thinking. With two offers on the table the chose the cheaper one, and the one which didn't involve two film studios. Madness.
So we're one step further away from seeing another Terminator film. I wonder if this sale will go to another non-studio and the cheapest bid? Perhaps I should throw in an envelope with ten pounds in it and a promise of hundreds of millions per film and then immediately sell it back to a film studio for ten million?