Tuesday, 31 May 2016
Last updated 3 days ago
Feb 18 2010 | 11:07am ET
Hedge fund Pacificor is seeing so much interest in the rights to “The Terminator” action movie franchise, it’s hired a law firm to handle the inquiries.
The Santa Barbara, Calif.-based hedge fund, which last week won the “Terminator” rights at a bankruptcy auction, is directing interest parties to Latham & Watkins. Pacificor said it has been contacted by “numerous” movie studios, producers, agents and others.
While the firm is “proud to own one of the most enduring and valuable franchises in motion picture history,” it realizes that it is no movie studio.
“While Pacificor is not in the theatrical feature production business, it does have access to considerable industry expertise and will consult with those experts over the next few weeks regarding all serious proposals,” it said.
Pacificor won the “Terminator” rights with a $29.5 million credit bid. The former owners of the franchise had bought the rights with a $30 million loan from the hedge fund, and the hedge fund claimed the former owners owed it some $38 million.