"I was talking to him back in fall about a new 'Terminator' film and quietly advising on that," he explained. "I was trying to be as encouraging as possible. Frankly, at that time, I thought it needed to be more about him. I told him he should not do it until it's focused on his character. I think there are some great stories that can be told about that character that haven't even been thought of yet."
Just recently, Lin dropped out of the project to focus on the sixth "Fast and Furious" film. At this point, it's unclear what the status of "Terminator 5" is, but it's starting to look like if it ever happens, it will be all about Schwarzenegger's character.
Source: http://moviesblog.mtv.com/2012/04/16/ja ... erminator/