It looks like THE TERMINATOR is switching hands.
With Halcyon Group, the company who owned the rights to the iconic sci-fi franchise, declaring bankruptcy today, it very well looks like Lionsgate may be next in line to oversee the property.
Oh those economic woes!
According to the L.A. Times, Lionsgate became what’s known as a “Stalking Horse” bidder after offering a cool $15 million in cash plus 5% of the gross receipts to assume the rights to the franchise. What that means exactly, is in order for another studio to secure the property away from Lionsgate, they must shell out at least an additional $750,000 on top of the $15 million asking price. In other words, this ain’t no cheap mothaf*ckin’ cyborg!
Halcyon Group, headed by Derek Anderson and Victor Kubicek, will however reap all revenue generated by last year’s TERMINATOR SALVATION, which culled upward of $370 million respectively.
The final bidding will close Feb. 5th, with an official court ruling on new ownership to be held on Feb. 10th. Sony Pictures and Warner Brothers, who distributed SALVATION, are also said to be quite interested in the bidding.
Should get interesting in the next month y’all, so stay close!
You can read more HERE.
Hands down best name in show biz!
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