Breaking! Ellison gets Schwarzenegger starring Terminator 5!

Indy shingle siren Megan Ellison (sister of equally filthy rich David, of the upcoming “Mission : Impossible – Ghost Protocol” and “Top Gun 2″) has put her money where her mouth is, snapping up the rights to the “Terminator ” franchise. Deadline says the deal was made today in Cannes where Ellison’s Annapurna Films and Lionsgate battled to score the new “Terminator” film. That new project has Justin Lin (“Fast Five”) attached to direct and Arnold Schwarzenegger onboard to reprise… well, we assume the Terminator? (or the creator of?).

The auction at the time was for a guarantee for at least half of the $29.5 million paid by hedge fund Pacificor to pull the franchise out of bankruptcy. It’s rumoured that Ellison may have paid up to $20 million for the rights to the series.

Though no story details have been released for the film, Deadline believes the plan is to do two more “Terminator” films that will wrap up the whole Skynet storyline.