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WEDNESDAY PM UPDATE: I hear Lionsgate’s bid was $15 million, plus a gross corridor.
WEDNESDAY AM: So what’s a stalking horse bid? An initial bid on a bankrupt company’s assets from an interested buyer chosen by the bankrupt company. This allows the distressed firm to avoid receiving lowball bids on its assets. That said, I hear Lionsgate will be named the stalking horse bidder in the bankruptcy sale of the Terminator franchise. Sources tell me it wasn’t a competitive auction. (Sorry, Joss Whedon, your $10,000 offer for the rights didn’t cut it.)
When last we left the tug of war over the future of The Terminator franchise, Halcyon Holding Group announced it was contemplating a sale of the rights after filing for Chapter 11 protection last August as a result of a dispute with Pacificor, a Santa Barbara-based hedge fund that lent Halcyon the sum to buy the Terminator rights in the first place. All the big studios, with Sony leading the way as well as Summit Entertainment and Media Rights Capital, were interested in bidding at a franchise auction for new Terminator films, TV program and other spin-offs. (Because we all know The Sarah Connor Chronicles on Fox did so well, right?)
The sale was being conducted by FTI Capital Advisors for Halcyon which bought the Terminator rights 2 years ago for $25M from Mario Kassar. I think this character/concept is played out. But given the regularity with which Hollywood is now rebooting franchises (Spider-Man is the latest), it pays to remember that even the fanboy dud Terminator 4: Salvation still made $380M worldwide.
- ‘Terminator’ Future To Be Decided by Feb 1
- Joss Whedon Makes Bid For ‘Terminator’
- Rights To ‘Terminator’ Franchise For Sale
- If You Care About Another ‘Terminator’…
- ‘Terminator’ Owners File For Chapter 11
- ‘Terminator’ Producers Accuse Hedge Fund Of Extortion, Bribery, Fraud
Editor-in-Chief Nikki Finke - tip her here.
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Nikki – Once again, you get the scoop. Thank you!
So while the movie under-whelmed (point fingers at Bale even more than McG… seriously), the show deserves better than snark. As a devoted fan of TSCC (with friends involved in the show, I admit), consider: Sarah Connor is a huge international hit and big on U.S. DVR, Web streaming and DVD. Yes, the U.S. ratings were not great but that also has to do with the way its target audience views shows not a clear reflection on the quality and popularity of the show (not to mention the junk time slots c/o FOX… which did not participate in the show’s fortunes like it does DOLL HOUSE and used that factor in sealing TSCC’s fate). Lionsgate would be lucky to have another show deliver the same kind of international bucks. Beyond our industry cynicism and two rounds of franchise owners more interested in bank than in making quality entertainment, fans worldwide want more Terminator – at least on TV.
NNNNNOOOOOOOOO!!!!!
Lionsgate, please, step away from the Terminator franchise. You don’t want to end up like Halcyon, or Carolco, or Hemdale.
Just handle the home video, but otherwise walk away. Please, the franchise is cursed. It makes big money, but companies still go under!
The franchise is not cursed and does not destroy companies. It has suffered because the people who buy it are amateurs or crooks or both. Lionsgate is led by a smart team that actually cares about making movies not the industry interlopers who drained the Halcyon, Carolco and Hemdale coffers. Some really talented people invested time and energy into this franchise over the years only to see their efforts destroyed while the interlopers benefited to the tune of millions (tens). It would be exciting to see a real company like Lionsgate support the talent instead of skimming off the resources for European vacations, yachts and tax shelters.
Whedon only offered $10,000? I’d say that would be a bargain to fix it.
~
Coat
Bring back Arnold as a bad ass warrior of the future who gets kidnapped by Skynet and turned into a Terminator. Other than that, this franchise couldn’t be less relevant. Who cares about worldwide gross. “Terminator Salvation” made 125 million at the domestic box office. “Terminator 2″ made 205 million domestic in 1991. This franchise is dead. Sure “Terminator Salvation” did well at the worldwide box office, but I really don’t think a sequel will do well domestically. It’ll probably make less that 100 million domestically. And these movies aren’t cheap. Fool us once, shame on you. Fool us twice, then shame on us.
Typical American attitude.
Money is money dude, who the fuck cares where it comes from?
If a movie makes 200M internationally, fuck domestic.
All I’ve come to want so far as Terminator is concerned is closure for the TV series, following the “WTF?” cliffhanger.
Then “they” could throw the entire franchise away and lock in the warehouse that stores the Ark of the Covenant for all I care. No more re-reboots of the saga and no more McG adventures.
Oh well.
So much for that humble dream.
You nailed it Nikki.
Reboot.
So, there’s still a chance of a Terminator vs. Robocop crossover?
Pffft. If Lionsgate pay anything more than $10 million for these rights I’ll be straight in contact with them as I have a bridge to sell that I think they’ll be very interested in.
This franchise is totally played out. But, if Lionsgate get the rights for a good price they could do very well with a Terminator reboot aimed at an adult audience. And frankly Lionsgate could do with some ‘known’ franchises at this to ‘compliment Saw.
No one wants a PG-13 Terminator. No one.
By the way, has anyone else heard that (apparently) those currently selling the rights have actually resorted to developing a script in order to show potential buyers that the franchise can indeed work as a ‘reboot of a reboot’?
My understanding of the stalking house in a bankruptcy has an additional twist. It can set up the due diligence requirements, obtain breakup fees, favorable bidding procedures and other frameworks/provisions in the bankruptcy to the disadvantage of other potentional bidders. So while it may prevent low balls bids since it sets a floor, it may also prevent other would-be higher bidders from grabbing the prize because of certain advantages it has. It’s generally a very good position to be in as a predator in a bankruptcy, but not always great for the company’s creditors in bankruptcy since can prevent higher value offers.
SCC was total awesomeness, some of the best fx on television and great storylines (if some of the eps meandered).
As a fan, I still liked SALVATION but there was literally zero story and no subplots and Bale was not even in the film at all!
Get some good screenwriters on it and a good script!
And put Summer Glau in it!
Agreed. My wife and I enjoyed, but thought a little disjointed. Not sure about future Terminator storylines. Maybe post human victory when the humans are struggling to recoup and the robots have a comeback. Or, also post victory, but nasty aliens arrive and the humans re-assemble the bots to jointly fight back. Ok, I know. It’s why I’m not in the biz.
I really enjoyed Terminator Salvation. and I hope we get more Terminator movies.
Terminator Salvation was destroyed by the marketing department when they convinced the producers to reveal that Marcus was a Terminatoranddidn’tknow it, in the freaking TRAILER! If you’re going to ruin about the only interesting subplot of a movie that was already WAY too interested in CGI Mayhem as opposed to character development, you are on your way out of business anyway. Then giving his heart away in the end was just…so melodrama Hollywood. They got the bankruptcy they deserved.
Only hope for the franchise is that Cameron finds some pocket change from his second billion dollar baby, buys the rights for sentimentality sake, and puts it into the hands of story tellers, not bankers
Agreed, I was surprised the trailer tipped us off to that. He could have been protrayed intitially as an ex-con renegade. Not knowing he was a bot going into the movie would have made it better.
Of the comments I like best the one praising Lionsgate as a company that understands filmmaking. Yes the company best known for Saw and Tyler Perry. Filmmakers.
Right, the company that mostly loses nine figure sums annually on its successful overall business.
If WB doesn’t get the franchise, you can probably kiss Sarah Connor Chronicles TV movies goodbye. Very very sadly.
I don’t care about the Terminator movies that came after T2. They are crap. Cyborg crap.
On the other hand, TSCC was more close to the two first movies and had a (most of the time) a good story. They had a good cast and great screenwriters. Bear McCreary music was excellent too. Shame on you Fox!
I wish that WB get the franchise and give the fans a 3rd season of TSCC. If not, fans should come together and start a “Save Sarah Connor Foundation” and buy the franchise!
Everything but, please, no more Terminator crap.
TSCC was some of the best sci-fi I’ve seen on TV. It absolutely carried on the spirit of T2. In my mind, the show was better than T3 and TS. McG failed to grasp the heart of Terminator. Perhaps he should have watched TSCC.
Forget about the movies…I want TSCC back.
I want John and Cameron back (love the Jameron) not to mention Derek, JH and Weaver. Now that was a show. Whoever buys it needs to remake TSCC!!!!