Last week, a company called Halcyon (which sounds like a name that would be involved with a Terminator film) bought all merchandising, licensing and film rights to The Terminator franchise from former producing partners Mario Kassar and Andrew Vajna. At the time, it was reported that Arnold Schwarzenegger would not be involved in the series going forward, what with being a Governor and all. In fact, that's been a known fact for quite awhile now, leading most fans to write off any and all potential future installments. Well, don't whip out the pen just yet; according to a few different sources, Arnold will be back ... just not in the flesh.

First off, Moviehole reports that Schwarzenegger has signed on as Executive Producer for the three Terminator pics Halcyon plans to churn out, so says the Governator's rep Annabelle Gross. Not only that, but The Post Chronicle reports Schwarzenegger has given Halycon permission to use his likeness in the fourth installment. Thus, we'll most likely see some cruddy digitally-created Arnold instead of the real thing. Halycon partner Derek Anderson said, "We'll be using computer altered stock images of Arnold. That way we can span his entire career, from the frightening '80s era Terminator to the ice cool T2 version." If used sparingly, I could see this looking fairly cool. I just hope they don't plan to use digital Arnold as a main character; it's one thing if we see his face, but once they start looping in old dialogue, I might be forced to throw something at the screen. "How many times is he going to say 'I'll be back!?'" Regardless, those who felt a Terminator 4 would be nothing without Arnold should be mildly pleased -- I mean, this is better than a five-second cameo, right?

UPDATE: Clint from Moviehole has emailed Cinematical telling us that this entire story may have been fabricated. According to Clint, Halcyon has told him that none of it is true. His source claims the quotes came from EW magazine in Australia; however, EW doesn't know a thing about it. Of course, should we hear otherwise, we'll let you know.