Producers Derek Anderson and Victor Kubicek purchased the rights to the Terminator franchise in 2007 for their Halcyon Co. production company, using a $30-million loan from hedge fund Pacifcor. Two years later, Terminator Salvation has earned $371 million worldwide, mostly overseas, while Anderson and Kubicek have filed for bankruptcy.
But things are looking up for them. Variety reports that a bankruptcy judge has given the producers a reprieve, allowing them to continue developing Terminator 5 and other properties. The producers blame Pacificor for pushing them into default, and Anderson thinks Salvation's quick turnaround was also at fault.
From when we heard about the possible opportunity, and the time in which we had to act, when we closed on the rights, the development of the script, to when the film was released, was such a short window. There were huge time obstacles we had to overcome. Obviously, this is the last place we thought we would be in.... But you have to deal with what's in front of you. It's been eye-opening.
The pair are hoping not to sell the Terminator rights and Anderson claims there is plenty of interest in another Terminator:
Victor and I are both huge Terminator fans, and we do see [Salvation] as a foundation for where we take the franchise in the future. Studios are enthusiastic. We have no regrets, all the trials and tribulations aside.
So Terminator 5 is back on track, for the time being. Considering Salvation's mediocre reception, it's hard to determine if this is good news or not.