Terminator Franchise Up For Sale?
Derek Anderson and Victor Kubicek, who acquired the science-fiction franchise in 2007 for $25 million and produced this year's sequel "Terminator Salvation," are looking to sell the rights as several companies owned by the two producers work their way through Chapter 11 reorganization.
Since "The Terminator" was released in 1984, the franchise rights have changed hands frequently. When the first movie came out, production company Hemdale Films owned a 50% interest and director James Cameron sold the other half to producer Gale Anne Hurd for $1.
Carolco Pictures, owned by producers Mario Kassar and Andrew Vajna, bought Hemdale's stake in 1990 for $10 million and released "Terminator 2: Judgment Day" the next year. In 1997, after Carolco filed for bankruptcy, they started a new venture, C2 Pictures, which bought their old company's stake at auction for $8 million and the remaining 50% from Hurd for $7 million.
Three companies owned by Anderson and Kubicek that own the "Terminator" rights and their interests in it filed for bankruptcy protection last month, triggered by a disputed debt owed to Pacificor, a Santa Barbara-based hedge fund that lent the producers money to make the purchase, along with working capital.
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Source-LATimes
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