UPDATE: Sony Pictures and Lionsgate are now in talks with Pacificor to jointly take control of the property, considering Pacificor has no experience in film production or distribution.
Deadline Hollywood has learned that the Halcyon Holding Corp. has sold the “Terminator” rights not to Sony Pictures or Lionsgate, but to Santa Barbara-based hedge fund Pacificor for $29.5 million. What’s interesting is that Halcyon has previously accused Pacificor of extortion, bribery, and fraud and demanded $30M in damages.
Halcyon will receive $5 million for every “Terminator” movie made from now on, as well as retains the revenue streams from the third and fourth “Terminator” movies. An arrangement also was made that the sale now wipes out the debt Halcyon owed to Pacificor and all the other creditors.
Back on May 9, 2007, rights to the “Terminator” series passed from producers Andy Vajna and Mario Kassar to the privately funded Halcyon for a reported $30 million. It was Pacificor that lent Halcyon the money to conclude the deal.
