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January 14, 2010 - Terminator 5 / Lions Gate bids on property

Scooped on Thursday, January 14, 2010

Lions Gate Entertainment, owners of the Saw horror film franchise, have bid $15 million dollars on acquiring the Terminator movie rights. If successful in their offer to buy the Terminator rights from bankruptcy, Lions Gate would also have to pony up 5% of all gross receipts from any future Terminator movies it made.

The Lions Gate offer is called a "stalking horse", meaning that another company or individual could bid higher and become the next owner, as long as the next new bid is at least $500,000 more than the preceding one. Bidding is open on the Terminator movie rights until the close of business on February 5.

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