Sony has joined Lionsgate in the bidding on the rights to the “Terminator” franchise, reports Variety. The studio submitted a bid on Thursday, 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 assets–which include the rights to future “Terminator” movies, 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.