EXCLUSIVE: Megan Ellison has won an auction for the rights to make at least two more installments of The Terminator franchise, with Fast Five’s Justin Lin attached to direct and Arnold Schwarzenegger attached to star. The deal came down to Ellison’s Annapurna Films and Lionsgate, which seemed to have had the project sewn up until she came forward with a dramatic bid. The auction at the time was for a guarantee for at least half of the $29.5 million paid by hedge fund Pacificor to pull the franchise out of bankruptcy. Unclear what the winning amount was, but I wouldn’t be surprised if it hit the $20 million mark. CAA brokered the deal.
Deadline revealed the two finalists in the auction on Wednesday, and I’m told that the deal closed late Thursday. Ellison, the daughter or Oracle founder Larry Ellison, and sister of Paramount-based Skydance producer/financier David Ellison, is winging her way to Cannes right now. She has a lot going on here. READ MORE »
EXCLUSIVE: 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.
As Deadline revealed late last month, CAA brought out the package to the town, the first real activity on The Terminator project since February 2010, when the property emerged from a bankruptcy auction and into the possession of Pacificor. While there were several dealmaking scenarios offered, including an option and first dollar gross fees, it’s understandable why an outright purchase would be most attractive to the rights holders.
The Santa Barbara-based hedge fund posted a bid of $29.5 million, with the promise that additional multimillion-dollar payments for each film would go to Halcyon, the company that made the 2009 McG-directed Terminator Salvation. That’s a lot of money to lay out for an extended period of time, with interest costs rising.
I’m told that the deal will close shortly, and that the project could become another hot Schwarzenegger title at the Cannes Film Festival market that’s just getting under way. It would be the third Schwarzenegger movie there. Lionsgate also has Schwarzenegger in the action film The Last Stand, set up as the English language debut of Kim–ji-Woon. Schwarzenegger is also at the center of a QED-funded project that Schwarzenegger is also attached to star in, Cry Macho. Lionsgate has long been interested in extending the James Cameron-created universe of Skynet, John and Sara Connor, and the indestructible cyborgs. In fact, when Halcyon ran out of money and went into bankruptcy, Pacificor beat out a combined bid by Lionsgate and Sony planning to make back-to-back sequels to bring the franchise to a natural creative conclusion. Read More »
EXCLUSIVE: The Weinstein Company has won a quiet but fevered bidding battle for worldwide distribution rights to the untitled next film by Paul Thomas Anderson. The film begins production June 13, with Philip Seymour Hoffman and Joaquin Phoenix so far set to star. Megan Ellison is financing. It is Anderson’s first trip behind the camera since There Will Be Blood.
Hoffman and Phoenix are locked. As for the actresses, I’m told that Anderson is eyeing such women as Madisen Beaty (The Curious Case of Benjamin Button) for a role, with Amy Adams, The Girl With the Dragon Tattoo‘s Lena Endre and Laura Dern also mentioned as actresses Anderson is interested in. The auction was held at CAA headquarters late last week, with Fox Searchlight also squarely in the mix.
This is the project that Anderson has worked on for a long time, once under the title The Master. He has greatly overhauled the script and now, Hoffman stars as a man who returns after witnessing the horrors of WWII and tries to rediscover who he is in post-war America. He creates a belief system, something that catches on with other lost souls. The film is fully financed by Ellison’s Annapurna banner. At a time when the implosion of the indie film marketplace made pricey auteur films so hard to finance, Ellison has emerged as something of a godsend to the small group of auteurs she is working with. She’s enabled Anderson to make the movie at or near the $35 million budget the film was going to cost back when Universal stepped away. Read More »
EXCLUSIVE: Megan Ellison’s Annapurna Pictures is negotiating to acquire an untitled satire that will re-team screenwriter Charlie Kaufman and director Spike Jonze, the tandem behind the mind-benders Adaptation and Being John Malkovich. The project was pitched recently to financiers, and … Read More »
EXCLUSIVE: The Weinstein Company has closed a deal for United Kingdom and Australian distribution rights to The Grandmasters, the Wong Kar-wai-directed Chinese language martial arts film. Harvey Weinstein is among a small group vying for domestic rights, with Fox Searchlight … Read More »
EXCLUSIVE: The Hurt Locker screenwriter Mark Boal and Management 360 have partnered with financier/producer Megan Ellison to option The Boy Who Kicked the Hornet’s Nest, an article about WikiLeaks’ Julian Assange in The New York Times Magazine written by the … Read More »