Sony and Lionsgate had combined their bids during Monday's auction.>>>ORIGINAL ARTICLE FOLLOWS<<<
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....says Nikki HERE. 'Tis an odd sounding move to be sure, but perhaps it's not all that surprising given Nikki's assertion that Pacificor's acquisition of TERMINATOR allows seller Halcyon to erase its debts to Pacificor - as well as other creditors. Which is pretty huge for Halcyon I should think, and makes one wonder if this maneuver was more or less fated all along.