Deadline says:
Megan Ellison has won an auction for the rights to make at least two more installments of The Terminator franchise, with Fast Five's Justin Lin attached to direct and Arnold Schwarzenegger attached to star. The deal came down to Ellison's Annapurna Films and Lionsgate, which seemed to have had the project sewn up until she came forward with a dramatic bid. The auction at the time was for a guarantee for at least half of the $29.5 million paid by hedge fund Pacificor to pull the franchise out of bankruptcy. Unclear what the winning amount was, but I wouldn't be surprised if it hit the $20 million mark. CAA brokered the deal.
With the new The Crow remake coming soon, we take a look back at the 30-year-old cult classic original–and where the stars are now.
Kaam Chalu Hai Review: Based on true events, this movie is thought-provoking and inspiring
Rebel Moon Part 2 Review: This movie doesn't feel anything new or worth remembering, which is a shame.
This means that either the project is pretty awesome or they just want the franchise name. Either way I suspect we see this get fast tracked with a late 2012 summer 2013 release.
I think they have to at least have the rights to the whole thing, franchise name, project and movie rights by a certain time or they can't make a movie....isn't that right?