Megan Ellis, the producer of True Grit has won an auction for the rights of the Terminator franchise. She will producer at least two more Terminator films. Fast Five director Justin Lin is officially attached to helm the project, and Arnold Schwarzenegger is officially attached to star.
Apparently Lionsgate was close to winning the rights until Ellis and her Ellison’s Annapurna Films swooped in an made the winning bid. It’s speculated that they dropped a cool $20 million for the rights. Ellis is also producing upcoming film projects Cogan’s Trade with Bad Pitt, Paul Thomas Anderson’s The Master, and is also financing the Katherine Bigalow (The Hurt Locker) film about the hunt for Al Qaeda leader Osama Bin Laden.