Lionsgate has emerged as the frontrunner in bidding for the rights to the Terminator movie franchise, the Los Angeles Times reports.
The rights to the franchise were put up for sale in September by Halcyon Group, which produced last summer’s Terminator Salvation movie and is trying to raise cash and work its way out of Chapter 11 bankruptcy.
According to the Times, Lionsgate has been declared the ‘stalking horse’ bidder by the bankruptcy court. Anyone wishing to outbid the company must pledge $500,000 more than Lionsgate is offering by Feb. 5 at 5:40 p.m. The new owner will be announced at a hearing on Feb. 10.
The film series has changed hands four times since the first film, The Terminator, debuted in 1984. It was followed by Terminator 2: Judgment Day in 1991, Terminator: Rise of the Machines in 2003 and last year’s Terminator Salvation. A television series, Terminator: The Sarah Connor Chronicles, began airing on the Fox network in 2008 and ran two seasons before being canceled.