Deadline is reporting that Megan Ellison’s Annapurna Productions has won an auction for the rights to make at least two more “Terminator” movies, with Justin Lin (Fast Five) directing and Arnold Schwarzenegger returning to the franchise. The site says:
“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 deal reportedly closed late Thursday and now Ellison will have to find a distributor for the film. Ellison is also financing Kathryn Bigelow and Mark Boal’s Osama bin Laden movie and John Hillcoat’s Wettest County in the World.