Filmmaker James Cameron is considering to relaunch the Terminator franchise. He says he plans to do it with a "three-film arc".

Cameron, known for Avatar and Titanic, wants to "reinvent" the big-budget sci-fi franchise – that paved his way to success and recognition in 1984. 

The rights to make the films have changed several times since the release of the first film, but under US copyright law some rights will revert to Cameron in 2019. 

His original Terminator, featuring Arnold Schwarzenegger as a cyborg sent from the future, was made on a $6 million budget, and went on to mint $78 million and achieve the status of a cult classic.

It's 1991 sequel Terminator 2: Judgment Day was also a hit. Cameron opted out of directing the third film Terminator 3: Rise of the Machines. Jonathan Mostow was roped in to direct "Terminator 3…", which will air in India on Monday on Star Movies and Star Movies HD as part of their ‘Hollywood Hunks' festival. 

The franchise lived on with 2009 film Terminator Salvation and 2015 Terminator Genisys. 

Cameron says he is in negotiations to oversee a new "three-film arc" if the ongoing issues with the rights to the franchise can be resolved. 

Schwarzenegger would be involved "to some extent" in the proposed trilogy but the plan would be to introduce new characters to "pass the baton".

"The question is – has the franchise run its course or can it be freshened up?" said Cameron. 

He added: "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).

"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.

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