Key Takeaways:
– ‘Terminator 3: Rise of the Machines' was a massive project with multiple rights disputes before coming to fruition.
– Arnold Schwarzenegger played a significant role, not merely as the star, but also in terms of the film's production.
– Despite the numerous challenges the film faced, ‘Terminator 3' was hugely successful, revealing a fascinating saga of its making.

“Let's face it, baby….these days….YOU GOTTA HAVE A SEQUEL!”. That's what we all pondered about after the massive success of ‘Terminator 2' when it took over the world in 1991. Surely, there would be a third movie? It turned out to be a tricky journey, though, mainly because of a convoluted rights situation to sort out.

The film rights for Terminator, to start with, were split equally between Carolco Pictures and Gale Anne Hurd, the ex-wife of James Cameron. However, Carolco Pictures eventually declared bankruptcy, and their assets, including the film rights, were sold. This created potential for new ownership of the sequel rights, with 20th Century Fox expressing interest.

Interestingly, both Hurd and Cameron had conditions for Schwarzenegger's return to the sequel – approval of script, director, and filming schedule. Additionally, Fox Film Entertainment also aimed to secure agreements with their chosen trio before purchasing the rights, much to the relief of Bill Mechanic, the chairman at the time.

However, even as negotiations went on, a new twist surfaced. Cameron's previous Carolco friends, Mario Kassar and Andrew Vajna, took interest in purchasing the Terminator rights themselves, intending to use ‘Terminator 3' as the launchpad for their new production company, C2 Pictures. This move brought significant changes to the table.

Meanwhile, the writing process took a quirky turn, with the hiring of Tank Girl's Tedi Sarafian. A considerable decision to make, but it eventually led to an initial script for ‘Terminator 3', which featured a dot com-based John Connor and an invisible female villain. This, however, underwent significant revisions, with John Brancato and Michael Farris coming on board to tweak the script.

The newly fixed script managed to spiral the budget to a whopping 170 million dollars, making it the most expensive film at the time. It also ensured a rewarding contract of $30 million, and 20% of all future profits for Arnold Schwarzenegger.

The casting process was equally thrilling. While Edward Furlong was initially signed on for John Connor, issues with substance abuse led to his replacement by Nick Stahl. Linda Hamilton declined to return as Sarah Connor, leading to a re-focus on John's character instead.

Once the cast was settled, an action-packed filming period followed. Despite a significant tonal shift, the film boasted of ambitious, technically sound action scenes and even included some humorous moments. Stunt coordinator Simon Crane's creativity gave rise to a 14-camera one-take shot, which involved Schwarzenegger smashing through a glass building.

Upon its release in 2003, ‘Terminator 3: Rise of the Machines' was a box office success despite the absence of Cameron. Audiences and critics found the film to be flawed but fun. Mostow acknowledged the challenge of making the sequel to a seminal film like ‘Terminator 2' but was glad things worked out in the end. The success of ‘Terminator 3' kept the franchise alive, paving the way for subsequent sequels.

Intriguingly, ‘Terminator 3: Rise of the Machines' remains a significant part of the Terminator universe, despite being a few notches down from its stupendous predecessor. It stands as an entertaining testament of the blood, sweat, and creativity that went into its making.