NEWS 1: Nov. 2, 2006
Sumner Redstone, chairman of Paramount parent Viacom Inc., fired more harsh words at Tom Cruise, with whom he had a 14-year business relationship.
Earlier this year, Redstone severed ties with Cruise's production company because of what he described as unacceptable conduct.
"He was embarrassing the studio. And he was costing us a lot of money," Redstone says in the December issue of Vanity Fair, the New York Post reported Tuesday.
Redstone says that his wife's opinion of Cruise played a part in his decision not to renew Paramount's deal with Cruise's production company, Cruise/Wagner Productions, the newspaper reports.
"Paula, like women everywhere, had come to hate him. The truth of the matter is, I did listen to her ..." Redstone says. "His behavior was entirely unacceptable to Paula and to the rest of the world. He just didn't turn one (woman) off. He turned off all women, and a lot of men."
Back in August, Redstone said Cruise's wild behavior, such as jumping on Oprah Winfrey's couch as he proclaimed his love for Katie Holmes and stepping up his advocacy of Scientology, was "creative suicide."
He said those antics cost the studio up $150 million in lost ticket sales for Cruise's last film, "Mission: Impossible III."
"When did I decide (to fire him)? I don't know. When he was on the 'Today' show? When he was jumping on a couch at 'Oprah'? He changed his handler, you know, to his sister (LeAnne Devette) is not a good idea," Redstone says.
Comment: Can Redstone be any more stupid by relying on his wife's opinion to make business decision and going public about it?
NEWS 2: Nov. 2, 2006
United Artists, the studio founded by movie greats Douglas Fairbanks, Charlie Chaplin, Mary Pickford and D.W. Griffith some 85 years ago and responsible for delivering such iconic film franchises as “Rocky,” “Pink Panther” and “James Bond,” will be reborn under a partnership formed between Tom Cruise, Paula Wagner and Metro-Goldwyn-Mayer Inc. (MGM). The announcement was made today by Harry E. Sloan, Chairman and Chief Executive Officer, MGM.
Cruise and Wagner, one of the most successful film production teams ever, will drive the rebirth of United Artists as MGM's operating partner. Along with their substantial ownership, Cruise and Wagner will have control of setting the company's production slate, from development to production greenlighting ability, subject to certain parameters. Wagner will serve as Chief Executive Officer of United Artists, overseeing the day to day operations of the studio alongside her longstanding producing partner Cruise, who will star in as well as produce films for United Artists and also be available to appear in film projects for other studios.
Cruise last teamed up with the original UA on “Rain Man” in 1988, which won four Academy Awards including Best Picture.
In establishing United Artists as a new entity, MGM and Cruise/Wagner will return the studio to its former roots by recognizing what made UA great in the first place - studio management by creative talent who can best encourage and support other creative talent. The talent friendly studio will be reborn as a place where producers, writers, directors and actors can thrive in a creative environment, developing and producing entertaining film projects. The plan would allow artists throughout the community to pursue their creative visions outside of the traditional studio system.
The studio plans to have a production slate of approximately four (4) films each year, which may increase in the future. Worldwide marketing and distribution will be handled by partner MGM. UA will be a major supplier of feature films to MGM, with production and development of UA movies being fully financed by MGM and its partners. MGM is the only major studio controlled by private equity firms which include Providence Equity Partners and Texas Pacific Group along with industry partners Comcast Corp. and Sony Corp. of America.
"Partnering with Tom Cruise and Paula Wagner, we have the ideal creative foundation from which to reintroduce the United Artists brand," said Sloan in making the announcement. "Tom and Paula are the modern versions of the iconic founders of United Artists - Douglas Fairbanks, Mary Pickford, Charlie Chaplin and D. W. Griffith - and our partnership with them reaffirms our commitment to providing creative talent with a comfortable home at United Artists and a dedicated distribution partner in MGM. United Artists is once again the haven for independent filmmakers and a vital resource in developing quality filmed entertainment consistent with MGM's modern studio model."
Commented Cruise: "Paula and I are very respectful of the rich history and tradition of United Artists, and we welcome the opportunity to contribute to that legacy by providing a wide range of releases that appeal to all audiences. It's our desire to create an environment where filmmakers can thrive and see their visions realized."
"This is a great opportunity for Tom and me to re-establish the United Artists brand and to work closely with the creative community," stated Wagner. "As studio partner-operators, we will provide a supportive environment and infrastructure for filmmakers that will allow them to do their best work."
"Providing Tom and Paula with the ability to greenlight films under the UA banner validates MGM's commitment to and recognition of independent producers as the true creative nucleus of Hollywood filmmaking," said Rick Sands, COO of MGM. "The relationship between UA, which will provide the creative environment for independent producers to nurture content of their own vision and MGM, which will apply its expertise to distribution and marketing to those projects, is an ideal collaboration of art and business. The resurgence of United Artists will take us another step closer to realizing the full revitalization of MGM. Harry and I are personally thrilled to be working with Tom and Paula."
Paula Wagner and Tom Cruise launched Cruise/Wagner Productions as an independent production company in September 1993. Since its inception, the company has enjoyed unparalleled success, producing a wide range of films that have earned multiple awards, widespread critical praise and global box office grosses in excess of US$2.9 billion. Films produced by the company include the Mission Impossible franchise as well as critical and commercial successes such as “War of the Worlds,” “The Last Samurai,” “The Others” and “Vanilla Sky,” among others.
Tom Cruise is one of the most successful, critically acclaimed and sought after movie stars in the world. In a career spanning 26 years, Cruise has received three Academy Award nominations and has won three Golden Globe awards for his performance in such hit films as “Born on the Fourth of July,” “Jerry Maguire” and “Magnolia” and numerous accolades for his performances in “The Last Samurai,” “Minority Report” and “Collateral.” Cruise's films have resulted in worldwide box office totals of approximately US$6 billion and his last two films, “War of the Worlds” and “Mission: Impossible III” have grossed nearly US$1 billion worldwide. Overall, Cruise has made 14 films that have grossed US$100 million in domestic receipts alone, with his last seven consecutive films reaching that benchmark.
The agreement between Cruise Wagner Productions and MGM/UA, which takes effect immediately, was brokered by Cruise Wagner's representative CAA and attorney Bert Fields.
Comment: This UA-MGM deal is such a genius strike!
NEWS 3: October 25, 2006
Tom Cruise and Katie Holmes will marry in Italy on Nov. 18, Cruise's representative, Arnold Robinson, confirmed to The Associated Press on Tuesday. Holmes will wear a dress designed by Giorgio Armani, Robinson also confirmed.
The wedding date was reported by Us Weekly magazine on its Web site. Katie, 27, and Cruise, 44, became engaged in June 2005. Their daughter, Suri, was born April 18. She made her debut on the cover of Vanity Fair magazine last month. The photo showed Suri peeking out of a jacket worn by Cruise with Holmes looking on.
Holmes, who starred in TV's "Dawson's Creek," was previously engaged to actor Chris Klein. Cruise, previously married to Mimi Rogers and Nicole Kidman, also had a high-profile romance with Penelope Cruz.Tom Cruise and Katie Holmes will marry in Italy on Nov. 18.
NEWS 4: Nov. 3, 2006
"Tom Cruise isn’t going to run United Artists — that’s what his partner, the savvy Paula Wagner, will do.
So what’s Cruise doing now that he and Wagner have their own little fiefdom? In the next week or so, sources say, Wagner and Cruise will be announcing that their first film for United Artists is a dramedy in the vein of “Jerry Maguire.” Apparently the folks at MGM have stressed to Cruise that doing that kind of film instead of an overblown action adventure is a better idea.
All of this comes on the heels of the announcement that Wagner and Cruise are moving into United Artists to make four films a year under their banner. Those films will be funded by MGM. At the same time, Cruise/Wagner still have a deal with Washington Redskins owner Dan Snyder to fund other movies, sources tell me.
There are a couple of scenarios at play here. One is that MGM entertained proposals from several different producers for how to revive the UA label. At the same time, Cruise is said to have pitched a similar idea to Universal chief Ron Meyer recently. Spies in Hollywood say they saw the two lunching in the Universal commissary.
Whatever the case, MGM is betting on something that no one can predict right now: Tom Cruise’s future viability. While few stars have actually ever permanently tanked their own careers, Cruise is at a crucial juncture in his. His name is the punch line of several cruel jokes. A whole younger generation now thinks of him as a couch-jumping maniac who pushes Scientology and has a really strange personal life.
Will any of this matter, though, if Cruise gets hold of a terrific script and director? Maybe not. Movies are all about chemistry, and Cruise still has the potential to find it again onscreen. If so, MGM comes out the winner in this odd new plan. But it will all rest on Cruise’s immediate public relations. For example, the handling of his November 18th wedding to Katie Holmes in Italy now takes on a whole new importance. If the thing looks screwy, or if it becomes a Scientology-fest that cuts out Holmes’ family, Cruise will be in bigger trouble than before.
Comment: Tom is so smart by letting his partner run the business and he will do what he is the best at: act and sell. Trust me on this, the wedding will be the best one that you can ever remember.
WHAT'S GOING ON?
What's going on here is that we are witnessing the biggest comeback of this great actor in his career and his personal life.
A marketing genius at work! .