Lionsgate leads race for 'Terminator' series

Lionsgate has reportedly bid more than $15 million to acquire the rights to the Terminator series.

According to the Los Angeles Times, the studio has offered $15 million and 5% of gross receipts on further Terminator productions to the Halcyon Group, making it the highest bidding Hollywood studio for the property.

The details of the offer emerged in a bankruptcy court filing yesterday by Halcyon, the firm owned by producers Derek Anderson and Victor Kubicek. Should the deal go through, Halcyon will keep all revenue generated by last summer's Terminator Salvation.

Lionsgate, the studio behind the Saw franchise, is allegedly keen to make Terminator sequels at a lower cost than the $200 million spent on Salvation.