Ahead of T2: Judgement Day's 3D re-release next month, news has been revealed that filmmaker James Cameron is in negotiations (via News.com.au) to produce a "three-film arc" that will "reinvent" the Terminator franchise, should the rights revert back to the Oscar-winner in 2019, as planned. Franchise veteran Arnold Schwarzenegger would reportedly "be involved to some extent," however, the idea of the new trilogy is to introduce new characters to "pass the baton."

“The question is — has the franchise run its course or can it be freshened up?,” Cameron told the site. “Can it still have relevance now where so much of our world is catching up to what was science fiction in the first two films. We live in a world of predator drones and surveillance and big data and emergent AI (artificial intelligence)."

He added, “So I am in discussions with David Ellison, who is the current rights holder globally for the Terminator franchise and the rights in the US market revert to me under US copyright law in a year and a half so he and I are talking about what we can do. Right now we are leaning toward doing a three-film arc and reinventing it.”

RELATED: James Cameron Returning to Terminator Franchise, Tim Miller in Talks to Direct

“We’ll put more meat on the bones if we get past the next couple of hurdles as and when we announce that.”

On the films that followed his 1984 original and 1992 follow-up, Cameron said, “I think it’s fairly widely known that I don’t have a lot of respect for the films that were made later...I was supportive at the time in each case for Arnold’s sake because he is a close friend. He has been a mate of mine since 33 years ago so I was always supportive and never too negative. But they didn’t work for me for various reasons.”

News first surfaced in January that Cameron was planning a "reboot and conclusion" of the Terminator franchise, eying Deadpool helmer Tim Miller to direct the next film in the series.

A short while later, Cameron opened up about the franchise, discussing how relevant the series could be in 2017 and beyond. "I think it’s possible to tell a great Terminator story now, and it’s relevant. We live in a digital age, and Terminator ultimately, if you can slow it down, is about our relationship with our own technology, and how our technology can reflect back to us—and in the movie, literally, in a human form that is a nemesis and a threat.”

The planned Terminator reboot doesn't have a release date.