The rights for the Terminator franchise are still up in the air as several studios and private production companies are trying to snatch up the property. The rights were taken away from previous owners, The Halcyon Group, when they found themselves in massive debt that they couldn’t repay. Now Terminator is on the auction block with Lionsgate showing interest, and Sony not far behind.

The latest update regarding the bidding war has Sony throwing their hat into the ring against Lionsgate who placed an offer early last month. The studio hasn’t released an official statement regarding their interest, but Variety is reporting that they’re in the game. The official auction will take place on Monday, followed by a bankruptcy hearing two days later.

Lionsgate has been named the “stalking horse,” and any other bidder who wants a chance to take the title will have to up the ante by at least $750,000. If Lionsgate loses out on its bid for the property by Sony or anyone else, they’ll receive that same amount as a breakup fee from the winning bidder.

Whenever they do decide to place the franchise into new hands, as a fan I hope they return it to its former glory. Make another R-rated, dark action drama about death and machines. That’s what made the first two so amazing. Between Lionsgate and Sony, it’s a toss up between who to trust because they’ve both done some shady things in the past when it comes to franchises. Spider-Man anyone?

Who do you think should own the rights to Terminator?