Megan Ellison and her Annapurna Films production company have won the rights to produce Terminator 5, after a heated bidding war. A few days ago we reported that the bidding auction had come down to Lionsgate and Annapurna Films, and now it seems Annapurna came away victorious.

Back in April we reported that Arnold Schwarzenegger will be back as the Terminator once more, with Fast Five director Justin Lin attached to direct. The project is still moving forward with both Arnold Schwarzenegger and Justin Lin.

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It is believed the Skynet story will be wrapped up with Terminator 5 and Terminator 6, although it isn't known when production will start, mainly since there isn't a screenplay yet. However, if production hasn't started on Terminator 5 by 2018, the rights to the franchise revert back to James Cameron, who directed the original sci-fi classic The Terminator.

Annapurna Films does not have a distributor attached yet, so it seems another auction for distribution may happen in the near future.