When last we left the tug of war over the future of The Terminator franchise, it was out for bid, and at least one potential buyer was Joss Whedon (prepared to ante all of $10,000). Today Halcyon Holding Group, which announced it was contemplating a sale of its rights to Terminator after filing for Chapter 11 protection last August as a result of a dispute with a lender, released the following statement:
“When Halcyon announced the bidding process for the Terminator franchise last month, we indicated that in addition to an outright sale of the property, we would also consider other strategic options, including a recapitalization ofthe company. Over the past few weeks Halcyon and its professionals have engaged in in-depth discussions and negotiations with numerous serious potential buyers, including several major movie studios. In addition, a number of attractive refinancing alternatives have also been presented. In order to maximize the value of a transaction for all of the company’s creditors and stakeholders, we are fully analyzing all these options. As a result, we will not be committing to a ‘stalking horse’ bid at this time. Nonetheless, given the significant positive interest in the Terminator franchise, we expect to be in a position to announce a successful sale or recapitalization no later than February 1, 2010.”
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