The Terminator Tempting Arnold Schwarzenegger, by Greg Tingle

Arnie is looking to leap forward from his role as the Governator, he's ready to return to his signature role as the Terminator - the man you love to hate.

The Hollywood, sporting and political icon is ready for action, and his reps at CAA, have put together a sweet offer that it's pitching to the studios that includes rights to produce a new Terminator sequel, which would be directed by Justin Lin, just off doing Fast Five, which opens domestically Friday, and produced by Robert Cort. No screenwriter has come on board as of press, but that may change soon.

There's interest in bringing back The Terminator franchise, which has pumped out four flicks to date, ranging from the original James Cameron-directed 1984 release The Terminator and its sequel, 1991's Terminator 2: Judgment Day, to the last film in the series, 2009's Terminator Salvation, the only one in which Schwarzenegger did not play in.

When the movie's rights holder the Halcyon Group went through bankruptcy in 2010, Lionsgate and Sony joined together in an unsuccessful bid to snatch the franchise for themselves. More recently, Universal has been talking to CAA about tackling the project.

But winning the package could be very expensive. In last year's bankruptcy proceedings, Pacificor, a Santa Barbara-based hedge fund, won the rights to the property for $29.5 million plus a promise to pay Halcyon $5 million for each sequel that is produced. Pacificor would be part of any new production.

It's going to see if anyone gets terminated in the process. Hasta la vista, baby.

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