Wendy Mitchell
February 10, 2010 AT 11:57 PM EST

Reuters reports that a U.S. bankruptcy judge has cleared the sale of the Terminator franchise to hedge fund Pacificor in a deal worth $29.5 million. In a hearing in Los Angeles today, U.S. Bankruptcy Judge Ernest Robles said that the sale to Pacificor would offer the best solution for the company’s creditors. Current owner Halcyon Holding had acquired the franchise in 2007 but fell into bankruptcy in August. Sony and Lions Gate Entertainment had jointly bid for the Terminator rights and were not selected; the judge today overruled their objection and cleared the way for the Pacificor deal.

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