Arnold Schwarzenegger Is Ready to Play Terminator Once Again

Now that Arnold Schwarzenegger is no longer the Governator, he's ready to return to his signature role as the Terminator.

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The star's agency, CAA, has put together a package that it's currently shopping to the studios that includes rights to produce a new Terminator sequel, which would be directed by Justin Lin, hot off Fast Five, which opens domestically Friday, and produced by Robert Cort. No screenwriter has come on board yet.

There has definitely been interest in reviving the Terminator franchise, which has resulted in four films to date, ranging from the original James Cameron-directed 1984 movie 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 didn't appear.

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

But winning the package could be pricey. 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.

Lin also is repped by CAA.