There is CG Terminator sequel in the works...and not a sequel to Salvation, but to the 1984 Cameron classic. Here's what Movie had to say...
.... don't get too excited AB King, there'd be an even lesser need for Schwarzenegger to appear in this one (though that doesn't mean it mightn't be too difficult to coax him into lending his lungs to it).
Hannover House tells us they've entered into an agreement with Vancouver-based Red Bear Entertainment, for "Terminator 3000," envisioned as a $70-million dollar budgeted, 3-D animated feature film based on the characters and situations introduced in the original "Terminator" feature. Though it's suggested the storyline will pick up after the events of the 1984 original, no plot details have been announced. The company is aiming for a PG-13 here.
Hemdale produced and distributed director James Cameron's original "Terminator" feature, but released the sequel rights in 1990 to Carolco, which later transferred the rights to ultimately end up under the control of Halcyon Media. Santa Barbara based Pacificor, LLC prevailed in the most recent auction and transfer of rights to the franchise in January, and retains approval and licensing authority over the proposed "Terminator 3000" project.
Hannover House and Red Bear Entertainment will release details of the production timing, financing and principal production personnel later this year, in advance of a proposed January, 2011 start.
Though I'm not a huge fan of animated spin-off's, I must admit, anything sounds better than a follow-up to that stenchy "Terminator Salvation" at this point.