The news about Terminator isn't a shock, considering that Terminator: Genisys was widely viewed as a disappointment. Genisys, which opened last summer, earned roughly $440 million worldwide, including only $89 million in North America. Skydance spearheaded the relaunch of the iconic franchise.

Paramount is bullish on Baywatch, starring Dwayne Johnson and Zac Efron. The big-screen take on the 1990s television series about California lifeguards co-stars Ilfenesh Hadera, Alexandra Daddario and Kelly Rohrbach. Seth Gordon is directing.

Baywatch centers on the leader (Johnson) of an elite group of lifeguards who is forced to team up with a young, hotshot former Olympian (Efron) to save their beloved bay.