The site quotes reliable sources telling them that McG is in talks, but not yet confirmed. Talks can always fail folks.
The folks over at Halcyon who hold the rights to the franchise have assured fans that this is not going to be considered a Terminator 4, but rather the beginning of a new franchise. The film will pick up beyond where T3 ended. The apocalypse is over and John Connor is putting together his resistance against the machines. Devin at CHUD speculates that it will be something of a Terminator origin story showing us the first time a human looking robot is used to infiltrate the ranks of people.
Of course, the question is whether or not McG can pull it off? Or, perhaps the question is whether or not anyone cares now that James Cameron isn’t involved in any capacity?
Considering McG has resigned himself to producing television shows and making traditional sports stories if he were to get on the project I really wouldn’t be all that interested. If he can pull it off, great, I just don’t expect anything special.