Deadline just broke some monster news this Friday evening, reporting that James Cameron regains certain rights to The Terminator in 2019, which will lead to him godfathering a new iteration of the film!

In even larger news, Cameron, whose copyright reversion happens 35 years after the release of the 1984 classic, is in early talks with Deadpool director and VFX wiz Tim Miller to direct a reboot and conclusion of one of cinema’s great science fiction tales.

David Ellison, whose Skydance co-financed Terminator Genisys, is bankrolling an exploratory effort that includes engaging some top-flight science fiction authors to find the movie creatively. Ellison still holds many Terminator rights, after his 2013 acquisition from sister and Annapurna principal Megan Ellison. She bought them in 2011 at Cannes for $20 million.

For those curious, “The Terminator might have endured the craziest road of any billion-dollar movie franchise, going back to when Cameron — who only had Piranha 2 under his belt as director — sold rights to his scripted project for $1 to producer Gale Anne Hurd, with the stipulation he could not be fired as director. The result was a 1984 sci-fi classic that launched his star and that of  Arnold Schwarzenegger. Cameron came back and topped himself to write and direct the blockbuster Terminator 2: Judgment Day, but he washed his hands of the property after that. He mentioned to producers Mario Kassar and Andy Vajna his plans to buy the rights back from Carolco bankruptcy. They beat him to the punch, figuring he would still participate, but Cameron responded by walking away. He didn’t participate in the three films that followed, or the TV show The Sarah Connor Chronicles. The rights ended up with Pacificor, which paid $29.5 million, and Megan Ellison bought them after that company floundered.”

After a few flaccid sequels, knowing Cameron is going to be heavily involved is beyond exciting. There’s no way he moves forward with anything but something that will revolutionize cinema. Hopefully his several Avatar sequels don’t get in the way. No matter, he’ll be back in some capacity.