We reported back in September that the Halcyon Company, home of the most recent Terminator film, Terminator Salvation, was going under chapter 11 reorganization. With the Terminator franchise as their only asset of value, the company had to either sell the franchise or find investors. Not surprisingly, the company has been unable to find investors. Empire now reports that the franchise is going up for auction this month.

According to Empire, "every major studio [has] expressed an interest as well as smaller outfits like Summit, Platinum Equity and Media Rights Capital," though Sony Pictures currently appears to be the most interested. When Halcyon announced their bankruptcy, they claimed the franchise was worth $60 million, even though they bought it for only $25 million. It seems unlikely that they will get the full $60 million.

In the end, the changing of hands is unlikely to greatly affect the franchise itself, as it has been tossed around plenty before. The only two issues immediately at stake are whether Terminator Salvation director McG (Joseph McGinty Nichol), who has already begun work on the franchise's next installment will indeed be kept on board, and whether we will ever see the direct-to-DVD movie that fans of the recently-canceled TV show, Terminator: The Sarah Connor Chronicles, are wanting. McG might have reason to be worried about his job, given the lower-than-expected performance of Salvation. As for the Sarah Connor DVD, that possibility seems totally up-in-the-air until we hear from whatever studio ends up buying the franchise.

(Correction: The franchise is going up for auction not in November but in January.)