Source:Variety
Sony has joined Lionsgate in the bidding on the rights to the Terminator franchise, reports Variety. The studio submitted a bid on Thursday, the final day for submitting offers.
Lionsgate stepped up last month as the first bidder for the rights to the Terminator franchise with a stalking horse or floor bid of $15 million and a 5% cut of future gross receipts.
Halcyon Group put the franchise up for sale in September. The auction for the assets--which include the rights to future Terminator movies, TV series, DVDs and merchandise--will be held Monday at the offices of FTI Consulting in Los Angeles, followed by a bankruptcy court hearing two days later.
If Lionsgate doesn't win the auction, it will receive $750,000 as a breakup fee from the winning bidder.
Sony has joined Lionsgate in the bidding on the rights to the Terminator franchise, reports Variety. The studio submitted a bid on Thursday, the final day for submitting offers.
Lionsgate stepped up last month as the first bidder for the rights to the Terminator franchise with a stalking horse or floor bid of $15 million and a 5% cut of future gross receipts.
Halcyon Group put the franchise up for sale in September. The auction for the assets--which include the rights to future Terminator movies, TV series, DVDs and merchandise--will be held Monday at the offices of FTI Consulting in Los Angeles, followed by a bankruptcy court hearing two days later.
If Lionsgate doesn't win the auction, it will receive $750,000 as a breakup fee from the winning bidder.
