Before the first film was created, director James Cameron sold the rights for $1 to Gale Anne Hurd, who produced the film. Hemdale Film Corporation also became a 50-percent owner of the franchise rights, until its share was sold in 1990 to Carolco Pictures, a company founded by Andrew G. Vajna and Mario Kassar. "Terminator 2: Judgment Day" was released a year later. Carolco filed for bankruptcy in 1995, and the rights to future "Terminator" films were ultimately put up for auction. By that time, Cameron had become interested in making a "Terminator 3" film. However, the rights were ultimately auctioned to Vajna in 1997, for $8 million. Vajna and Kassar spent another $8 million to purchase Hurd's half of the rights in 1998, becoming the full owners of the franchise. Hurd was initially opposed to the sale of the rights, while Cameron had lost interest in the franchise and a third film.