A bid has been made and accepted to create two more Terminator films with Arnold Schwarzenegger.
Deadline says producer Megan Ellison was one of two finalists in the auction this week. “The auction at the time was for a guarantee for at least half of the $29.5 million paid by hedge fund Pacificor to pull the franchise out of bankruptcy,” they said, though it was unclear exactly how much it actually went for.
The films previous rights owner Halcyon Group had gone bankrupt in 2010 leading to the hedge fund Pacificor purchasing the rights for $29.5 million plus the condition that Halcyon would receive $5 million for each sequel that is produced. The current deal apparently came down to Ellison’s Annapurna Films and Lionsgate.
Director Justin Lin (Fast Five) is attached to the two films which will star the Governator himself, Arnold Schwarzenegger. As far as plotlines go, Deadline wrote, “the expectation is the Skynet storyline will be wrapped up in two features.” The last film in the franchise, Terminator Salvation, did not star Schwarzenegger although it used his likeness.
Ellison was a producer on True Grit and is currently shopping around Kathryn Bigelow and Mark Boal’s search for Osama Bin Laden film.