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Halcyon puts ‘Terminator’ on block

Future rights will be up for sale in January

One way or another, “Terminator” should be back in action soon.

An auction is set for January for Halcyon Co. to sell the rights to future “Terminator” pics, TV series, DVDs and merchandise as part of its bankruptcy process.

An exec with FTI Capital Advisers, retained by Halcyon, issued a bullish outlook Monday, saying there’s been strong interest building since the investment bankers began sending out materials last week to prospective buyers.

“This is a unique asset — the only Hollywood tentpole asset that’s not owned by a studio,” said Kevin Shultz, senior managing director of FTI Capital Advisers.

“Terminator Salvation,” the fourth film in the franchise, carried a production pricetag of about $200 million and took in $371 million worldwide. Shultz noted that the recent $60 million purchase of rights to the Teenage Mutant Ninja Turtles franchise by Nickelodeon should provide a useful comparison to potential buyers.

“We have a property that has made three times the box office of the four Turtles films,” he added. Halcyon paid Mario Kassar $30 million for the “Terminator” rights in 2007, then filed for Chapter 11 protection in September as a result of a dispute with hedge fund Pacificor, which financed the purchase. At that point, Halcyon toppers Derek Anderson and Victor Kubicek told the bankruptcy court that they valued the “Terminator” franchise at above $70 million.

Shultz said Monday that Halcyon would determine by Nov. 20 which offer would serve as a “stalking horse” and set the minimum bid price for the “Terminator” assets.

He also indicated that the winning bidder could be a party that’s willing to recapitalize Halcyon, which has been developing a fifth “Terminator.”

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