Last week, we brought you the news about Lionsgate and Annapurna Films being in a bidding war over Terminator 5. The project was said to be already in Lionsgate’s hands, after the studio ponied up a payment of $29.5 million to current title owners Pacificor, and then Megan Ellison’s Annapurna came in at the eleventh hour with a higher bid.

Now, Deadline reports that Megan Ellison‘s production company, Annapurna Films has won that bidding war and has scored the rights to produce Terminator 5, which is to be directed by Justin Lin (Fast Five) and star Arnold Schwarzenegger.

Terminator 5 starring Arnold Shwarzenegger is currently in development.