MGM is gearing up to acquire distribution rights to the fifth TERMINATOR film, reports VARIETY. Due to a lawsuit filed against franchise owners Halcyon, MGM has a 30-day right of first refusal on the franchise. MGM passed on TERMINATOR SALVATION, but now, with star Christian Bale and director McG in line to return, MGM sees less of a risk with the Arnold Schwarzenegger-less direction the franchise is taking. Insiders wonder whether MGM can handle the pricetag associated with the franchise. WB paid nearly $50 million for SALVATION's U.S. rights and Sony shelled out $75 million for international rights. MGM owns the rights to the library of defunct company Orion, which released THE TERMINATOR.