LionsGate is not really a big studio that has many franchise other than the never-ending Saw franchise. Now, they will add another one to their archives. According to Variety and Empire Online, LionsGate made a $15 million bid auction to acquire the Terminator franchise rights.
It was been reported for a quite awhile ago that the franchise holder, Halcyon Group has been on effort to relieve their mounting debts. The closing date for the bid is 5th February and the decision on who owns the rights will be known on 10th during the finalizing details by Halcyon Group as part of their bankruptcy deal.
This sets the company up as the "stalking horse" bidder, which not only means it's currently the one to beat (and other interested parties would have to stump up $500,000 more than that to be in with chance). Oh, and if they don't win, Lionsgate pockets $750,000 as a "breakup fee." How we wish everyday auctions worked like that.
- Empire Online
It was been reported for a quite awhile ago that the franchise holder, Halcyon Group has been on effort to relieve their mounting debts. The closing date for the bid is 5th February and the decision on who owns the rights will be known on 10th during the finalizing details by Halcyon Group as part of their bankruptcy deal.