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.