Hedge fund wins "Terminator" franchise

NEW YORK (Reuters) - The rights to the "Terminator" science-fiction action movie franchise have been won by a California-based hedge fund in a bankruptcy auction, a source familiar with the matter said on Tuesday.

In the Monday auction, Pacificor LLC offered bankrupt Halcyon Holding Group $29.5 million for the rights, plus an additional $5 million for every new "Terminator" movie made, said the source, who declined to be named, noting the agreement still requires court approval.

Pacificor, based in Santa Barbara, beat out a joint offer from movie studios Lionsgate and Sony Pictures. It was not immediately clear how much Lionsgate and Sony Pictures offered.

Representatives for Halcyon and Pacificor did not return calls seeking comment.

The "Terminator" movies depict battles between futuristic machines that try to destroy the human race, and the humans who oppose them.

If the deal is approved, Pacificor will have rights to the revenue from future films, games, DVDs and television from the franchise.

Halcyon will keep the revenue streams from the third and fourth "Terminator" movies, worth more than $10 million, the source said.

A hearing on the deal will be held on Wednesday at a California bankruptcy court.

"It is entirely possibly that Sony and Lionsgate could object," said the source. "At the end of the day, the judge's concern is what is best for Halcyon's creditors, and if Sony can argue their bid is worth more, maybe the judge will change his mind. But usually that doesn't happen."

The case is In re: Halcyon Holding Group LLC, U.S. Bankruptcy Court, Central District of California, No. 09-31854.

(Reporting by Chelsea Emery; editing by John Wallace)

Twilight's Shirtless Werewolf Spies A Stretch For New Movie

Not content with playing a pouting werewolf in the Twilight movies and signing on to flesh out CGI cartoon hero Max Steel for the big screen, Taylor Lautner has decided to stretch himself with his latest superheroic role... literally.

Lautner will play Stretch Armstrong in the often-discussed movie version of the old-school toy. The movie, currently being developed by Stretch owners Hasbro and movie house Imagine for Universal, will play Stretch as an uptight spy who has to adjust to his new powers; it's a role that Universal co-chairman Donna Langley thinks Lautner is ideal for:

In the past two years, Taylor has emerged as a real star at the global boxoffice. He brings the perfect balance of energy and athleticism to the role of an unlikely super hero with a fantastic super power.

Are energy and athleticism really things that balance each other out? Aren't they both on the same side, attribute-wise?

Stretch Armstrong is aimed for a 2012 release.

Taylor Lautner cast in Stretch Armstrong movie

by Mark Pollard
A live-action feature film based on the popular Hasbro action figure Stretch Armstrong is in the works at Universal with Steve Oedekerk scripting and XMA-trained NEW MOON star Taylor Lautner cast in the lead.

Some may recall that Oedekerk, who produced Nickelodeon’s “The Adventures of Jimmy Neutron,” also wrote and directed the kung fu movie spoof KUNG POW: ENTER THE FIST (2002).

Lautner is currently riding high as one of the stars of hit teen sci-fi film series TWILIGHT. In addition to his upcoming role in the third film, THE TWILIGHT SAGA: ECLIPSE, Lautner has been cast in two action films. He will star in MAX STEEL, which is based on another toy and CANCUN, a film that is expected to allow him to show off his extreme martial arts skills in an island adventure.

Stretch Armstrong was introduced to the market in 1976, originally by Kenner. Unlike other action figures, Stretch was filled with gel that allowed his elastic arms and legs to be stretched out.

There isn’t much of story to go with the toy but other related action figures have been sold over the years including Evil X-Ray Wretch Armstrong, Stretch Monster and Fetch Armstrong, a stretchable dog.

Box-Office Weekend: A Dear John for Avatar

By Richard Corliss

Call it a Super Bowl weekend upset or proof of the law of diminishing returns — or even the triumph of one love story over another. Whatever the explanation, Dear John, a young-adult weepie based on a novel by The Notebook's Nicholas Sparks, dethroned Avatar as king of the domestic box office, according to early studio estimates. THE ENTERTAINMENT BLOG The clear victory — $32.4 million for Dear John to the sci-fi eco-epic's $23.6 million — ends Avatar's weekend winning streak at seven. James Cameron's previous smash, Titanic, reigned for an astounding 16 consecutive weeks, from its opening in December 1997 all the way through the late-March 1998 Oscar ceremony, where the waterlogged romance took home a record-tying 11 Academy Awards. (See TIME's review of Dear John.)

The strategy of the folks at Screen Gems — the company that took on Dear John after New Line surrendered the property when the company got folded into its parent, Warner Bros. — was to open the movie on Super Bowl weekend, when American males, a big part of Avatar's constituency, were preoccupied with large men running, throwing and writhing in pain. Director Lasse Hallström, who has helmed such dewy fare as Chocolat, Something to Talk About and The Shipping News, gave the remaining femme audience the standard Harlequin cocktail of a handsome soldier (G.I. Joe's Channing Tatum), an idealistic gal (Amanda Seyfried, of Mamma Mia! and Big Love) and a big war (he re-enlists after 9/11). That's why girls ran wild at the wickets, in the biggest Super Bowl weekend opening ever: Dear John just topped the $31.1 million that was amassed two years ago by Miley Cyrus' Hannah Montana concert movie.

The last time Avatar was not No. 1 in North American theaters was the weekend of Dec. 11-13, when the top spot went to the Disney animated feature The Princess and the Frog. That was another fish-out-of-water (or amphibian-in-the-bayou) love story, about a New Orleans girl who hopes to build her dream restaurant but is turned into a frog when she kisses a cursed prince. In Dear John, the hero meets his sweetheart by diving into a lake to retrieve her purse. The Sparks story has even more in common with Cameron's. In both pictures, a U.S. soldier encounters a beguiling outsider with an affinity for green housing: Dear John's female lead works for Habit for Humanity, while Avatar's tries to protect her tribe's Tree of Souls. So for the past two months, the box office has been dominated by movies about strong women with a noble interest in real estate.
Still, don't weep for Avatar. Its 24.6% drop from the previous weekend was its steepest yet, but that's still minuscule compared with most movies. It also has a huge female fan base, as did Titanic, which TBS, in its own canny counterprogramming, is showing opposite the Super Bowl. Avatar is the all-time top grosser (in current dollars), it's still No. 1 worldwide, and it looks to stay strong through this year's Oscar bash (which is four weeks from today), where it will be a prime contender for Best Picture, Best Director and a slew of technical prizes.

Dear John's eminence will be more fleeting, but it certainly escaped the ignominious-flop status of the weekend's other wide release, From Paris with Love. That John Travolta spy-action film earned only a quarter of Dear John's take. Another burly espionage melodrama, the Mel Gibson vehicle Edge of Darkness sank over 60% in its second frame. Meanwhile, the male-oriented Legion and The Book of Eli fell into the bottom half of the top 10, behind the frilly Kristen Bell romantic comedy When in Rome.

Guy movies in trouble; girls on top. It's enough to make industry analysts wonder if there's a place for male stars, and male audiences, at the box office — at least on Super Bowl weekend.

Here are the weekend's top-grossing pictures in North American theaters, as reported by Box Office Mojo:

1. Dear John, $32.4 million, first weekend
2. Avatar, $23.6 million; $630.1 million, eighth week
3. From Paris with Love, $8.1 million, first weekend
4. Edge of Darkness, $7 million; $29.1 million, second week
5. Tooth Fairy, $6.5 million; $34.3 million, third week
6. When in Rome, $5.5 million; $20.9 million, second week
7. The Book of Eli, $4.8 million; $82.2 million, fourth week
8. Crazy Heart, $3.7 million; $11.2 million, eighth week
9. Legion, $3.4 million; $34.7 million, third week
10. Sherlock Holmes, $2.63 million; $201.6 million, seventh week
11. The Blind Side, $2.6 million; $241.6 million, 12th week

"Dear John": A Movie the Tea Party May Love

By Jackie K. Cooper

Dear John" is a film based on the novel of the same name by Nicholas Sparks. It is an anomaly from what Hollywood usually offers, in that it praises patriotism, sacrifice and strong family support. With characteristics like that, this is a film the Tea Party Movement could take to its heart.

Of course the first obstacle the movie has to overcome is that it is based on a Nicholas Sparks novel. Having Sparks as the main source of material usually means the film is dismissed as being sappy and contrived. Sparks writes emotional stories and though they routinely please his readers, they do not impress the critics. And the same is true of movies made from his books, even though "The Notebook" is eternally popular among viewers of all ages.

This movie focuses on John Tyree (Channing Tatum) an Army sergeant who is home on leave in South Carolina. While at a beach outside Charleston, South Carolina he meets Savannah Curtis (Amanda Seyfried). She is a college student living at her parents' beach house during the summer and has two weeks left before she must return to college. The two are instantly attracted to each other and plan to reconnect when John finishes the one year remaining on his enlistment.

During this two week period, John is also introduced to her friend Tim (Henry Thomas) and his young son Adam (Braeden Reed). Adam is autistic and has captured Savannah's heart. Because of her connection with him she plans to change her major to special education.

The film follows the romance between John and Savannah and focuses on the problems that occur in their lives. One of them is John's relationship with his father (Richard Jenkins). Mr. Tyree is a remote man with some idiosyncrasies that suggest he may have some emotional problems of his own. John has an awkward time communicating with him but Savannah seems to bring them closer together.

The acting in this film is good, with Jenkins being outstanding. He manages to create the most emotional moments in the movie. Tatum and Seyfried are at their best and make the struggles of the couple touch the audience. Thomas, who played "Elliot" in "E. T.", is also interesting to watch.

As with "The Notebook," the makers of this film do not follow the plot of Sparks' book completely. There are changes made that enhance the film and give it more impact. They also make the film more appealing to its intended audience.

"Dear John" is a love story with a little more weight than the average film of this type. It should increase Tatum's star status and enhance Jenkins stature as an actor. Most of all it should please moviegoers from start to finish just as "The Notebook" did.