While there has been continuing upheaval in Hollywood with management changes at Disney, the long MGM re-financing/sale/auction/"when will this end" process, one story that's gotten a bit under the radar is the status of the "Terminator" franchise.

Halycon Co., which independently produced "Terminator: Salvation" which was then just distributed by Warner Bros. domestically and Sony Pictures internationally, has put the property up for auction after declaring bankruptcy. Initially, Lionsgate appeared to be the largest bidder with $15 million pitched for the rights, but according to the Los Angeles Times, Warner Bros, Sony Pictures, cash rich Summit Entertainment and film financing company Legendary Pictures are all considering jumping in the ring. More distressing is non-Entertainment equity firm Pacificor, which was involved with Halcyon's failed start up, may also make a bid for the property.

What happens next is unclear, but any bids higher than Lionsgate's will need to be submitted by Feb. 5. We love the mini-lion, but are rooting for WB or Summit ourselves. Whether the next "Terminator" film picks up after "Salvation" is another matter entirely.