Megan Ellison purchases film rights to 'The Terminator' franchise

"The Terminator" hit theaters in 1984.

Producer Megan Ellison and her Annapurna Films topped the bidding for the rights to make two new films in the “The Terminator” franchise.

According to Deadline, which broke the story early this morning, the bidding came down to Ellison and Lionsgate, although the final price is not yet known.

Pacificor, which bought the rights to the franchise in a bankruptcy auction in February 2010, was shopping the project around with Arnold Schwarzenegger and director Justin Lin ("Fast Five") attached. The company bought the rights to the franchise in a bankruptcy auction in February 2010.

Ellison produced three films last year--“Main Street,” “Passion Play” and “Waking Madison”--and was executive producer on the Academy Award-nominated “True Grit.” She is the daughter of billionaire Larry Ellison, co-founder and CEO of Oracle.