April 27, 2011 at 9:56 AM ET
No longer just talk, the "Terminator" franchise is a step closer to getting its reboot, with the series' original star Arnold Schwarzenegger back in the lead spot.
According to Deadline Hollywood, various Hollywood studios on Wednesday will be receiving proposals for the film, which will open the door for the bidding process to begin. There's a lot at stake: rights to make the film are expected to go for a hefty sum and there will be pressure for big box office returns. "Fast Five" director Justin Lin is attached to the film, but studios will have to start bargaining without a sure bet about the script, as no screenwriter has officially been brought on board.
The "Terminator" franchise was last in the news in February 2010 when the property emerged from bankruptcy auction. The last time audiences got a glimpse of "Terminator," it was the 2009's McG-directed "Terminator Salvation," which starred Sam Worthington and Christian Bale. "Salvation," which cost a reported $200 million to make, earned more than $370 million worldwide, with only $125 million coming from U.S. moviegoers, according to Box Office Mojo.