Beating out eager bids from Sony and Lionsgate, Pacificor has, pending a review by bankruptcy court, successfully purchased the rights to the Terminator franchise from Halcyon for $29.5 million. And just who is this "Pacificor" corporation, besides what sounds like either the single company that will own China, Japan, Korea and the entire North American West Coast in our post-apocalyptic future or a Mexican pilsner-drinking robot? Apparently it's the same Pacificor that pushed Halcyon into bankruptcy in the first place:
Halcyon Holding Corp accepted the $29.5 million bid from, of all parties, the debtholder which pushed it into bankruptcy, Santa Barbara-based hedge fund Pacificor. (This is the same Pacificor whom Halcyon accused in a lawsuit of extortion, bribery, and fraud and demanded $30M in damages.)
Tonight, Sony and Lionsgate dropped out at just under $29.5 million when it became clear that Pacificor "was willing to pay almost any amount of money for Terminator," an insider tells me. Halcyon will receive $5 million for every Terminator movie made from now on, as well as retains the rich revenue streams from the movies Terminator 3 and 4. Sources behind Halcyon claim to me that the arrangement made now wipes out the debt Halcyon owed to Pacificor and all the other creditors.
Too early to tell what this could mean for the direction of the popular franchise, but rest assured: the future of Terminators (plural) is still in safe hands.