Warner Bros. has bid $100,000 against a $500,000 total exercise price for feature film rights to “The Invaders,” the 1960s sci-fi ABC-TV show starring Roy Thinnes. Those rights, once owned by Carolco Pictures, are being auctioned by attorneys for the bankrupt indie film company on June 4.
“The Invaders,” produced by Quinn Martin, ran from 1967 to 1968 on ABC and centered on an architect (Thinnes) who discovered an advance guard of aliens from a dying planet had crash-landed their flying saucer and, disguised as humans, were preparing to conquer the earth.
TV rights to the series are held by Spelling Prods.
Competitive bidders have until Thursday to qualify for the auction. Howard Weg and Rick Wynne, attorneys for Carolco and the bondholders, respectively, say that bidders may take on the same arrangement made by WB — which includes a $1.1 million production bonus — or top WB’s bid by offering a lesser amount in a cash buyout for the property.
Weg, of the law firm Orrick Herrington & Sutcliffe, said that the liquidating trust approved by federal bankruptcy court is now fully in charge of Carolco’s remaining assets. At the same time, Wynne, of Wynne Spiegel Itkin, the law firm repping the creditors, will now be pursuing two lawsuits filed on behalf of the trust.
One suit will seek to set aside a $7.5 million claim against Carolco by Credit Lyonnais and attempt to force repayment of $7.5 million already given over to the French bank just before Carolco went into bankruptcy as payment on a bank credit line.
The attorneys will also pursue a $22 million claim against Japanese electronics firm and film distribber Pioneer, a major shareholder in Carolco, in connection with its distribution arrangement with the company.