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Film News: Studio moving on to phase 2 — MGM had received several bids as Friday’s deadline arrived for initial offers for the troubled studio.

Film News: Studio is the leading bidder for franchise — Lionsgate has stepped up as the leading bidder for the rights to the “Terminator” franchise with an offer of $15 million and a 5% cut of future gross receipts.

Film News: Studio’s future, potential sale or revamp, to get closeup — The possible sale of MGM — one of Hollywood’s longest-running dramas — will come into focus in the next few weeks when the first bids are expected to be submitted.

Film News: Studio picks up rights to Nicolas Cage 3D action pic — Summit Entertainment has picked up North American distribution rights to 3D revenge-actioner “Drive Angry,” toplining Nicolas Cage, for release Feb. 11, 2011.

Film News: Studio options screen rights to crime novel — Sony Pictures has optioned the English language screen rights to “The Girl with the Dragon Tattoo,” the first of three titles on Millenium Series of crime thriller novels by Stieg Larsson, the Swedish journalist and activist.