After almost eight years of absence from Hollywood, Arnold Schwarzenegger will return to the role of The Terminator in the new film which is currently being shopped around Hollywood studios, according to Deadline.

The 63-year-old former governor of California has appeared in almost all the Terminator films, going back to 1984 with James Cameron's first installment.

Deadline reported that Universal, Sony, Lionsgate and CBS Films are all considering bidding on the film. The rights to Terminator are currently owned by a hedge fund, Pacificor, which bought them in bankruptcy proceedings for another hedge fund, Halcyon. Halycon created Terminator Salvation.

It is not yet known if James Cameron will be involved with Terminator 5

It has been reported that Schwarzenegger is also circulating another pair of projects. He has said that he wants to get back into his acting career. According to The Guardian, Schwarzenegger will appear in The Last Stand, in which he will play a border town sheriff who must take on the leader of a Mexican cartel.