The group that owns the rights to the "Terminator" franchise is being forced to restructure its finances.
The Halcyon Holding Group has retained advisers to "evaluate strategic alternatives," the company announced on Monday.
Halcyon filed for Chapter 11 protection last month due to its ongoing dispute with Pacificor, the Santa Barbara-based hedge fund that financed its purchase of the movie franchise.
FTI Capital Advisors has been hired to help the company negotiate the process and assess the value of its assets, which also include first-look rights to the works of science fiction writer Philip K. Dick.
“Based on our extensive due diligence, we believe the value of the Terminator franchise alone is substantially greater than the $30 million Halcyon paid for it in 2007,” Kevin W. Shultz, Senior Managing Director of FTI Capital Advisors, said in a statement. “In our view, Halcyon enjoys a wide variety of strategic options and we intend to explore them all.”
The company will continue to operate while undergoing the process and says it will keep developing the next "Terminator" movie and other feature film projects, including an English-language remake of Susanne Bier's Oscar-nominated film “After the
Wedding.”
Published Date:
2 years 19 weeks ago