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Sony And Lionsgate Loses To Pacificor For 'Terminator' Rights
Reported by Outsiders - 12:58 PM 2010.02.09
 Bidding for the Terminator movie rights went on auction today with both Sony Pictures and Lionsgate as the top two bidders. Neither studio won...Halcyon accepted a $29.5 million bid from a Pacificor. The same company who pushed the franchise into bankruptcy. Nikki Finke reports that Sony and Lionsgate dropped out at just under $29.5 million when it became clear that Pacificor "was willing to pay almost any amount of money for Terminator,". Halcyon will receive $5 million for every Terminator movie made from now on, as well as retains the rich revenue streams from the movies Terminator 3 and 4. The arrangement made now wipes out the debt Halcyon owed to Pacificor and all the other creditors. This deal is subject to approval by the bankruptcy court and it will be presented to the judge at a hearing on Thursday. Lets just say both Sony and Lionsgate are not too happy right now... MORE movies NEWS
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