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Universal Circling ‘Terminator’ Franchise As Potential Gig For ‘Fast Five’ Director Justin Lin

So, in case you missed it, Arnold Schwarzenegger is done governating and is ready to act again. “Kindergarten Cop 2: The Graduating Class“? While that dream project may never happen, movement is now starting once again on an inevitable new “Terminator” franchise which may or may not get the aging cyborg killer back for a role, but you can bet studios are hopeful that he’ll at least stop by to say hello and “I AM back” to the camera.

Deadline reports that Universal are circling the franchise, the rights of which are currently held by hedge fund company Pacificor. The rights were part of an ugly battle between a few studios back in early 2010 and since then, no one has dealt with the company to license the rights for a film (though tiny indie studio Hannover House attempted to launchTerminator 3000” an animated, PG-13 film without seeking approval from Pacificor. Oops).

If all goes well — though it is quite early in the game at this point — Universal would like Justin Lin (best known for helming three entries in the “Fast & Furious” franchise) to take the director’s chair with Chris Morgan (“Wanted,” and the aforementioned “Fast & Furious” flicks) to pen the script.

The delightfully lippy James Cameron said last year that the franchise “soup’s kind of been pissed in” and we’d tend to agree. The McG-helmed “Terminator: Salvation” was bad enough that we can’t imagine how much more watered down the “Terminator” films will get with Lin in the director’s chair. And moreover, does anyone really want one of these again? Unless Universal pulls a Darren Aronofsky/”Wolverine” -type move our interest in this remains — well — terminated.

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