Halcyon Co. heads Derek Anderson and Victor Kubicek have confirmed they are developing a fifth installment in the Terminator franchise.

According to Variety, director McG, who directed the upcoming fourth film, Terminator Salvation, is working with the Halcyon duo on the latest project.

Announcement was among the news that came out of the Dubai Intl. Film Festival, which bowed Dec. 11 and runs through Thursday.

McG was in Dubai for the announcement, despite his well-known fear of flying, which led to him dropping out of the Oz-shot Superman Returns. He mentioned that incident in remarks during the announcement.

No decision has been made as to where to film the next Terminator, although the Middle East was mentioned as a locale.

When Anderson and Kubicek acquired the rights the lucrative Terminator franchise last year from previous owners C2, the former ad exec and banker envisaged the re-booted series as a trilogy. Christian Bale has signed on in the role of John Connor for all three roles. Newest pic is tentatively scheduled for a 2011 release.