Lionsgate Loses Battle for the Future, Megan Ellison Wins ‘Terminator’ Rights

He’s back, and for multiple films.

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 reprise his role, reports Deadline.

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.

The expectation is the Skynet storyline will be wrapped up in two features. Ellison made her bid without a domestic distributor attached, so conceivably that project could become about the hottest title in the ongoing Cannes market.

Source: Deadline