Annapurna Films has paid in the region of $20m to make at least two Terminator films following a victorious auction that parachutes another white-hot title into an already bullish Cannes market.
Megan Ellison’s company beat out Lionsgate in the race to acquire rights from hedge fund Pacificor, which had previously picked up the property in a bankruptcy auction.
Ellison, who is understood to have personally met with Pacificor and impressed them with her vision for the franchise, now holds worldwide rights and can expect an intense weekend of courtship from studios as she jets into the Croisette.
CAA negotiated the sale to Annapurna and in the coming days will be fielding offers on the package, with Fast & Furious Five director Justin Lin attached to direct and Arnold Schwarzenegger attached to star.
Annapurna has become an increasingly influential equity financier in recent months, investing in distribution on notable titles like Wong Kar-Wai’s Grandmasters and Paul Thomas Anderson’s second world war project. CAA also represents Schwarzenegger.