Schwarzenegger to get 30 million for T3?

The budget for the planned "Terminator 3" could be reaching terminal velocity. Variety reports that Arnold Schwarzenegger is getting a guaranteed pay day of $30 million to reprise his role as the unstoppable cyborg.

Jonathan Mostow, the "U-571" director who replaces original director James Cameron, is to receive $5 million for his work, the report said.

While some sources were denying Schwarzenegger's rich pay day, others confirmed that it would exceed the $25 million he earned five years ago for his work in "Batman And Robin."

"Terminator 3," which is budgeted at $180 million, is currently the subject of an auction for distribution rights in North America. The film is being financed by Intermedia, and whoever wins the rights to sell the movie to theatres will have to do so solely on the basis of the screenplay.

The asking price for domestic theatrical, TV, and home video and DVD rights to "T3" is a whopping $50 million against 50% of the gross, Variety said.

All of the major Hollywood studios are reportedly in on the bidding for the film's rights, with the notable exception of Fox, which originally financed the "Terminator" franchise.

Despite the sequel's twisted history, the studios are anxious for a piece of the action based on the screenplay, which takes place 10 years after the action of "T2" and sees hero John Connor facing off against a new, more powerful female "Terminatrix," Variety said.

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