Hi being a newbie and all I quite dont understand the terms of Blender. Its free to use but what if I want to sell the cinematics/animated movie Ive done in Blender?

If you make a movie in some modelling program and you don't include use anyone else's copyrighted work (such as story, characters, models, whatever) then of course you own the copyright to the movie.
This is independent of the modelling software used.

Thanks for the quick reply...

But if Im the one behind story, characters and so on, Im free to sell the cinematics/animation...

This might help you.

Yes, but if your new at blender (and probably modeling), your probably not going to sell anything soon. But its free.

From the blender FAQ:

Quote: So I own the copyright to all output?

In almost every circumstance for blender, only the code and other GPL'd files themselves are covered. Any output of such material is copyright the person who produced the output, in this case, the artist.