Arnold Schwarzenegger's next Terminator film has reportedly been cancelled, in what could be the end of the decades-long movie franchise.

It could be "hasta la vista, baby" for one of the world's most famous action movie characters, according to reports on the New York Daily News.

The paper, reporting sources at Paramount, says bosses have pulled the plug from the cyborg's next instalment, in spite of the last one's success.

"It is over for The Terminator and Arnold," the paper's source said.

"The studio has taken the sequel off the production slate completely, meaning there is no pre-production or any plans for another sequel," it explained.


"The talent had been offered long term deals, but this is not happening."

Terminator Genisys, the fifth and last movie of the franchise, raked in $409m worldwide - despite the fact it failed to impress American audiences, bringing in less than $100m in the US box office.

Image: Arnie and Game of Thrones star Emilia Clarke in Terminator: Genisys

There had been rumours last year a sequel to Genisys could have been postponed, after the studio revealed it had been taken off its release date, substituted for a big-screen version of the 1990s TV show Baywatch.

"The Genisys movie was seen as a way of reviving the franchise, but the critics were not happy and somehow the studio bosses fell out of love with making more, even though they made huge profits," the LA source said.

The decision, if confirmed by Paramount, would leave any further outings for the franchise in the hands of small, independent production companies.

Of course, this is far from unlikely.

Schwarzenegger has quit politics and Celebrity Apprentice, and has lately been producing small, independent movies.

Schwarzenegger first played the Terminator in the James Cameron 1984 movie of the same name.

In the film, he is a robot sent back in time kill a woman, pregnant with the future leader of the resistance.

In the 1991 sequel, Terminator 2: Judgment Day, the star played a cyborg who must protect the young future leader. One of his famous catchphrases in the blockbuster was "hasta la vista, baby".