Derek Anderson and Victor Kubicek's company bought the rights to the "Terminator" franchise for $25 million two years ago in order to put the killing machines back to theaters with "Terminator Salvation".
It's weak box-office results have lead to no real plans to pursue Terminator 5 or a new trilogy as originally intended.
Along with the recent cancellation of the TV spin-off Terminator: The Sarah Connor Chronicles and that's a recipe for disaster.
Halycon have now hired the financial advisory firm FTI Capital Advisors to look into their options as the company's only real asset.
The company is in debt of several million to Pacificor, LLC a Santa Barbara hedge fund. FTI's managing director Kevin Shultz says "We're going to be contacting a variety of studios and independent companies."
Someone else will scoop up T-rights eventually--it's just a question of what they do with 'em and how long the process takes...
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