Back in August, we reported that the Terminator franchise was in some serious legal and financial trouble. The rights are currently owned by the Halcyon Company, who have managed to make more court appearances than they have films. They were in danger of losing the rights to their hedge fund, Pacificor, who was poised to claim them if Halcyon defaulted on their loan.But according to The Financial Times, Halcyon has now filed for bankruptcy after their lawsuit with Pacificor, and is selling off the rights to Terminator. It would appear that filing for Chapter 11 afforded their precious franchise some protection from the hedge fund, and they can now sell it to bail themselves out. The sale will be conducted by FTI Capital Advisors, and does not cover rights to the earlier Terminator films.
The Times notes that this auction is coming at a particularly tough time for Hollywood, who is feeling the economic crunch just like everyone else. But it notes that Terminator is one of the rare "blockbuster brands" not controlled by a big studio, and that alone has may drooling at the chance to control future properties. Summit is said to be particularly interested (they can probably pay for it just out of Twilight proceeds), as is Sony and Media Rights Capital. But remember, this is America! Everyone has a chance at destroying mankind, and if you have millions (estimates put the sale beyond $60 million, the benchmark set by the sale of the Teenage Mutant Ninja Turtles), you can buy them for yourself. I would have faith in something other than John Connor if a Cinematical reader took the reins of this franchise.
1. I feel like i'm in a minority here, but i really liked terminator: salvation and was really looking forward to a sequel....looks like it might be a ways off at this point if it ever happens
Posted at 11:47AM on Nov 2nd 2009 by Dano