'Terminator 5'? Not so fast, franchise in peril once more
Halcyon looking to sell rights in bankruptcy proceedings
After "Terminator Salvation" grossed over $371 million worldwide this summer, a fifth installment to the popular franchise seemed inevitable. That may not be the case. Producers Derek Anderson and Victor Kubicek are reportedly looking to sell the rights to the property either partially or completely as their companies work their way through bankruptcy court.
According to The Los Angeles Times, the duo has hired a financial advisory firm to "evaluate strategic alternatives." Halcyon has one and only one asset at their disposal: the "Terminator" franchise. A spokesman told the paper they would be "contacting a variety of studios and independent companies" and they feel the property is now worth more than the $25 million they acquired it for in 2007. And yet this is nothing new for the property.
The "Terminator" rights have been continually fluid since director and creator James Cameron sold half his rights to his producing partner and future wife Gale Anne Hurd for a measly $1. Hemdale Film Corp owned the rest and it's gone through the hands of Carolco Pictures and C2 Pictures since. After the successful "Terminator 3: The Rise of the Machines," C2's eccentric owners Mario Kassar and Andrew Vajna stunned many by selling the property to the inexperienced Anderson and Kubicek. The duo rebooted the film series with stars Christian Bale, Sam Worthington and director McG, but still couldn't turn a profit. McG has reportedly been working on the fifth "Terminator" film, but that won't happen anytime soon until Halcyon sells the rights or escapes banktruptcy. At this point, it's clear a studio should come in to secure the property to avoid further industry embarrassment.
Anderson told the paper Sony Pictures, which distributed "Salvation" overseas, expressed interest in buying the rights, but the studio wouldn't confirm that report. Warner Bros. released "Salvation" and "Rise of the Machine" domestically, but it is unclear if they have interest in acquiring the property. Considering how valuable franchises have become with studios such as Universal, Paramount and Sony desperate to add to their slate, it's not a pipe dream for Halcyon to secure more than the $25 million they paid for it.
If the fans had their say? No doubt Mr. Cameron would empty his "Titanic" filled wallet and bring "Terminator" home.
More news on this story as it develops on HiFix.
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