Sony Enters Fray in “Terminator” Chase
Sony’s joined Lionsgate in the bidding on the rights to the “Terminator” franchise. The studio had no comment but a source close to the bidding confirmed that Sony submitted a bid yesterday, the final day for submitting offers. Lionsgate stepped up last month as the first bidder for the rights to the “Terminator” franchise with a “stalking horse” or floor bid of $15 million and a 5% cut of future gross receipts. Halcyon Group put the franchise up for sale in September. The auction for the “Terminator” assets — which include the rights to future “Terminator” pics, TV series, DVDs and merchandise — will be held Monday at the offices of FTI Consulting in Los Angeles, followed by a bankruptcy court hearing two days later. If Lionsgate doesn’t win the auction, it will receive $750,000 as a breakup fee from the winning bidder.
http://www.variety.com/article/VR1118014794.html?categoryId=13&cs=1
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