Could the words "I'll be back" have ever be more prophetic for one movie franchise? That line made California Governor Arnold Schwarzenegger a superstar in 1984's "The Terminator," but he couldn't have foreseen the crazy journey James Cameron's creation would take through the Hollywood movie machine since then. The lucrative franchise has spawned toys, video games and theme-park rides but has also bizarrely changed hands several times and never been controlled by a major studio. This lead Cameron to abandon his creation after the blockbuster "Terminator 2: Judgment Day," because he couldn't secure the rights to the third feature that eventually became "Terminator 3: Rise of the Machines." Now, according to Variety, Producers Andy Vajna and Mario Kassar have relinquished control of the property to upstart production entity Halcyon Co. for an undisclosed amount believed to be in the tens of millions of dollars.

Key to Halcyon's acquisition is an already developed script for a new sequel: "Terminator 4." No director is attached nor have deals been made to finance or distribute the picture, but Halcyon has announced its intent to release it in summer 2009 (ironically, the same time Cameron's "Avatar" debuts). The company plans to reinvent the franchise with a new cast and plotlines, just as the most recent Batman and James Bond flicks have successfully done. The new "T4" script is seen as the beginning of a new trilogy, because it follows an older John Connor as he leads the remnants of humanity against the machines in an apocalyptic alternate future.

Halcyon will have to recruit a talented filmmaker and recognizable stars if it expects a major studio to go overboard in partnering with them. "T3" made $433 million worldwide but at a reported production budget of $200 million, Warner Bros. wasn't necessarily clamoring for a fourth installment. Moreover, many will question whether the series can still achieve blockbuster status without Schwarzenegger involved, and he's probably more interested in running for the U.S. Senate than acting.

Complicating matters for continuity buffs, Vajna and Kassar have teamed up with Warner. Bros. television to produce the new FOX network show "The Sarah Connor Chronicles," which tracks the years between the second and third films when Sarah and her son, John, are on the run. The series hasn't been officially picked up but is expected to before advertising up-fronts in the next few weeks. It's also unclear whether Halycon will take over the rights to this project. This is one story that should have several interesting twists and turns during the next 12 months.

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