Arnold Schwarzenegger will be paid £18.9m to reprise his role as the Terminator, according to Sky News.

The fee is more than four times what the original Terminator film cost to make in 1983.

Sky have confirmed that Sony and Warner Brothers are together putting up £35m to show the film in the USA, with global rights expected to exceed £53m.

Although Schwarzenegger has already been confirmed, James Cameron will not be returning in the director’s seat after he sold the rights to a third instalment to his then wife Gale Anne Hurd.

Filming is due to start next month, with a preliminary release date of 2003.