CATEGORIES Action, Sci-Fi & Fantasy, Deals, Lionsgate Films, Sony, RumorMonger, Celebrities and Controversy, Newsstand, Remakes and Sequels, Movie News, CinematicalEveryone has been mildly interested to see who would win the Terminator franchise rights after Halcyon Holding Corp. went into bankruptcy. (Come on, we all wanted Joss Whedon to get it.) Last we knew, Lionsgate was the leading contender to win the rights to making more chronicles of John Connor. But according to Deadline Hollywood Daily, the bidding has ended, and the winner? Pacificor, the Santa Barbara hedge fund that had loaned Halcyon the money to buy Terminator in the first place. Halcyon failed in their loan payments, forcing Pacificor to come after them, which they tried to head off by filing their own lawsuit. But now the slate has apparently been wiped clean to the tune of $29 million dollars.
Sony and Lionsgate did place bids, and even united to bid together once the first round was over. But both dropped out at $29.5 million when it became clear that Pacificor was willing to pay any amount necessary to win the Terminator rights. Reportedly, Sony's Peter Schlessel was "furious" at how the auction went down and stormed out of the building. Was that because he really, really wanted Sony to have Terminator? Was he just mad that he wasted his evening? Or is everyone as weirded out by the shadowy business practices as we on the outside are?
The sale must be approved by bankruptcy court, so there could still be another chapter to the sad saga. What Pacificor plans to do with the franchise is anyone's guess, but I suspect that Terminator will be something so tied up in legal red tape and rights that we won't see another film for a long, long time.