Movies

Terminator franchise under the hammer

MUMBAI: Production company Halcyon is auctioning off the rights of its Terminator franchise, indicating that bad days are not yet over and movie profits continue to be under pressure from falling DVD sales.


The news of the auction comes only a few weeks after the rights of the Teenage Mutant Ninja Turtles were sold for $60 million.


Terminator has evinced considerable interest within trade circles as it is a film franchise not controlled by a big studio. 


Sony Pictures and Warner Bros, which distributed the latest Terminator Salvation, are considering bids as is independent studio Summit Entertainment.


Last month, Halcyon hired FTI Capital Advisors to put the rights up for sale and manage the process. The auction to make new Terminator films will likely take place by January. Representatives of Halcyon have set their plans to sell off the rights to pay debts and recapitalize their company.


Later this month, Halcyon may choose a "stalking horse," a potential buyer whose early bid puts it in first position and gives it exclusive access to perform due diligence. Any other company that wanted to buy the Terminator rights would then have to outbid the stalking horse.


Whoever buys Terminator would get rights to make future sequels as well as get Halcyon‘s remaining income from Salvation, which cost about $200 million to make and grossed $371 million worldwide.

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