James Cameron did in fact start developing his own ideas for Terminator 3 soon after the second movie was released, and the reason why it never manifested comes down to one word: rights. While the movie was in the development phase the production company that owned 50% of the rights, Carolco Pictures, filed for bankruptcy and its assets - including the Terminator sequel rights - were sold off. Terminator 2: Judgment Day was a box office hit that is to this day considered one of the greatest sci-fi movies ever made - so why didn't James Cameron return to direct Terminator 3? Following the release of Judgment Day in 1991, more than a decade passed before Terminator 3: Rise of the Machines finally arrived in theaters, and Jonathan Mostow ( U-571) was in the director's chair instead of Cameron for the long-awaited sequel.
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