Terminator Franchise Sold To Underdog
Doesn't look like Skynet had enough cash to buy the franchise, and it is in the hands of Pacificor. Is this the company that starts SkyNet? Maybe we should ask our friends over at TheArnoldFans. I know they would have the answer.
The franchise sold to Pacificor yes the same Santa Barbara-based hedge fund Pacificor. (This is the same Pacificor whom Halcyon accused in a lawsuit of extortion, bribery, and fraud and demanded $30M in damages.) Say what?
Furious Sony Pictures Entertainment and Lionsgate bidding war was going on and then Bam Pacificor sneaks right in and Terminates them both at the last Minute.
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," an insider tells me. 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. Sources behind Halcyon claim to me that the arrangement made now wipes out the debt Halcyon owed to Pacificor and all the other creditors.
Here's alittle back story on the divorce of the franchise:
Back on May 9, 2007, rights to the Terminator series passed from producers Andy Vajna and Mario Kassar to the privately funded Halcyon Co (formed by entrepreneurs Victor Kubicek and Derek Anderson) for a reported $30 million. It was Pacificor that lent Halcyon the money to conclude the deal. Once Pacificor pushed Halcyon into Chapter 11, the Terminator franchise went up for sale. Lionsgate was selected as the stalking horse bidder with a ground floor offer of $15 million. Obviously the Hollywood entities kicking the tires on this rights offer, including Summit Entertainment and Media Rights Capital, didn't think this character/concept was played out. After all, Terminator 4: Salvation made $380M worldwide. But who knows what Pacificor will plan for the project now...
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