Company Town

The business behind the show

« Previous Post | Company Town Home | Next Post »

'Terminator' bidding: Sony, Warner, Summit, Legendary may soon vie with Lions Gate

January 14, 2010 |  8:09 am

TermSalv1 Lions Gate Entertainment's position as the lead bidder to buy the rights to make future "Terminator" movies may not last long.

Sony Pictures, which distributed last year's “Terminator: Salvation” overseas, Warner Bros., which distributed the movie domestically, Summit Entertainment, the independent studio behind the “Twilight” movies, and film financing and production company Legendary Pictures are all considering making bids, according to people close to the companies.

Another possible bidder is private equity firm Pacificor, which loaned Halcyon Co. the $25 million it used to buy the "Terminator" rights in 2007. Chief executive Andy Mitchell said that Pacificor may make an offer if it feels that the debts owed to it by Halcyon are not sufficiently covered by any other bids.

Halcyon put the "Terminator" rights up for sale in September, one month after it filed for Chapter 11 reorganization, in order to raise cash to pay off Pacificor and other debtors.

For more on the bankruptcy court sales proceedings of the "Terminator" rights, see the story in today's Times.

--Ben Fritz

Photo: Sam Worthington in "Terminator: Salvation." Credit: Warner Bros.