Although Director Justin Lin (Fast Five) is still enthusiastic about the Terminator reboot, a scheduling conflict has arisen that may temporarily terminate his involvement. The Terminator franchise rights holder, Megan Ellison, is looking to start production on the first of two new installments by the last quarter of 2012. Since Lin’s The Fast and the Furious 6 has a release date of May 2013, his schedule doesn’t jive. However, if Ellison and Arnold Schwarzenegger can hold off on production until Lin is finished, there’s a chance he may still be involved.The timeline doesn’t look all that rushed as reports indicate that Ellison has yet to acquire a script or, for that matter, a screenwriter. No studios have signed on though several have expressed interest. However, there is a minor cause for concern: due to a series of legal trickeries and copyright speak, James Cameron will actually regain the rights to the franchise in 2018. Hopefully Ellison and company can get a couple of installments churned out before then. Hit the jump for what you can expect from a Terminator reboot.Although Deadline reports that Ellison and Schwarzenegger are anxious to reboot the series and get out from under the Cameron-storyline, they also suggest that the director himself is still involved in the brainstorming process. There are a few rumors floating around about what the reboot might entail. Obviously timelines play a huge role in the franchise and also provide a convenient deus ex machine for plot tweaking and rebooting. Would it be better for the franchise overall to keep Schwarzenegger involved, whether as a cameo or just on the creative side? Or would it be more advantageous to move on and go for something original?What would you like to see in the Terminator reboot and how do you think Lin will handle it? Sound off in the comments.