A high-stakes battle is being waged for the right to relaunch The Terminator, with Fast Five helmer Justin Lin attached to direct and Arnold Schwarzenegger attached to reprise his signature role in one of filmdom’s most iconic franchises. Yesterday, it looked like Lionsgate would win the property with an outright purchase, with an upfront payment of at least half of the $29.5 million that Pacificor spent to claim the property in a bankruptcy auction. That was until Megan Ellison and her Annapurna Films came in with a bid that was higher. They are now fighting it out. As she usually does when she commits to a film, Ellison is staking that amount without having a distributor locked in place.