Kaz
08-23-2006, 09:46 AM
POOR Tom Cruise. First he's forced to take a pay cut, now the bosses at Paramount have decided to give him the flick.
Viacom Inc's Paramount Pictures unit today said it was ending its 14-year relationship with Tom Cruise's film production company because of the actor's offscreen behaviour.
The company's chairman, Sumner Redstone, said in an interview with the Wall Street Journal that the behaviour of the star of the Mission: Impossible series and Top Gun was unacceptable to the company.
Cruise's contract with Paramount allowed the actor to receive $US10 million to support his production company, Cruise/Wagner Productions, in exchange for their choice of any of his films. The contract was set to expire next month.
Paramount reportedly funded Cruise's latest movie Mission: Impossible III, which was expected to make up to $US400 million in international box office takings, but due to Cruise's expected profit margin, the studios would simply break even, World Entertainment News Network reported.
Paula Wagner, the actor's longtime partner in his movie company, Cruise/Wagner Productions, struck back at Redstone, calling his comments about the three-time Oscar nominee "offensive" and "undignified."
"Whatever remarks Mr. Redstone would make about Tom Cruise personally or as an actor have no bearing on what this business issue is," she told Reuters. "There must be another agenda that the studio has in mind to take one of their greatest assets and malign him this way."
Five films starring Cruise and co-produced by his company, including the Mission: Impossible series, have generated theatrical revenues totaling over $US2 billion worldwide during the past decade. And Wagner said his films accounted for about 15 per cent of the studio's overall box office gross over that period.
Moreover, Wagner insisted that she and Cruise chose to leave the Paramount lot and establish a new venture financed through a private, revolving equity fund of $US100 million.
"We in fact made a decision not to continue our relationship with Paramount Pictures," she said.
Viacom and Paramount executives declined further comment on the situation.
The war of words between Redstone and Wagner marked a bitter end to one of the most lucrative production alliances between a major Hollywood studio and an A-list star.
Cruise, one of Hollywood's biggest stars, has been known more recently for his antics on US television talk shows, including jumping up and down on Oprah Winfrey's couch to declare his love for Katie Holmes and criticising the use of anti-depressant drugs.
It appears not even Cruise's roadside efforts earlier this month were enough to save the Hollywood actor from the chop.
A rep for the couple confirmed that Cruise, 44, and Holmes, 27, were on their way home from the airport after a trip to Salt Lake City, Utah, for an exhibition soccer game, when they saw a couple on the freeway who had apparently just been involved in a car accident.
The engaged pair and parents to 4-month-old daughter Suri checked to make sure the passengers, Jon Henningsen and his wife, were not seriously injured, then waited with them until the emergency services teams arrived.
"As much as we like him personally, we thought it was wrong to renew his deal," Redstone was quoted as saying.
"His recent conduct has not been acceptable to Paramount."
Cruise's representatives and officials from Viacom and Paramount did not have any immediate comment on the report.
Last month, the Los Angeles Times reported that Paramount Chairman Brad Grey had informed representatives for Cruise and his production partner, Paula Wagner, that the studio planned to slash the amount it spends on their company, Cruise/Wagner Productions.
Months ago, Grey was one of several movie industry executives who publicly rallied to Cruise's defence to insist that his status and popularity were undiminished.
They were reacting to a USA Today/Gallup poll in which half of those surveyed registered an "unfavourable" opinion of the actor.
Many cited his off-screen behavior during the past year, including his outspoken defence of his religion Scientology and his blunt criticism of psychiatry and actress Brooke Shield's treatment for postpartum depression.
-News.com.au
Viacom Inc's Paramount Pictures unit today said it was ending its 14-year relationship with Tom Cruise's film production company because of the actor's offscreen behaviour.
The company's chairman, Sumner Redstone, said in an interview with the Wall Street Journal that the behaviour of the star of the Mission: Impossible series and Top Gun was unacceptable to the company.
Cruise's contract with Paramount allowed the actor to receive $US10 million to support his production company, Cruise/Wagner Productions, in exchange for their choice of any of his films. The contract was set to expire next month.
Paramount reportedly funded Cruise's latest movie Mission: Impossible III, which was expected to make up to $US400 million in international box office takings, but due to Cruise's expected profit margin, the studios would simply break even, World Entertainment News Network reported.
Paula Wagner, the actor's longtime partner in his movie company, Cruise/Wagner Productions, struck back at Redstone, calling his comments about the three-time Oscar nominee "offensive" and "undignified."
"Whatever remarks Mr. Redstone would make about Tom Cruise personally or as an actor have no bearing on what this business issue is," she told Reuters. "There must be another agenda that the studio has in mind to take one of their greatest assets and malign him this way."
Five films starring Cruise and co-produced by his company, including the Mission: Impossible series, have generated theatrical revenues totaling over $US2 billion worldwide during the past decade. And Wagner said his films accounted for about 15 per cent of the studio's overall box office gross over that period.
Moreover, Wagner insisted that she and Cruise chose to leave the Paramount lot and establish a new venture financed through a private, revolving equity fund of $US100 million.
"We in fact made a decision not to continue our relationship with Paramount Pictures," she said.
Viacom and Paramount executives declined further comment on the situation.
The war of words between Redstone and Wagner marked a bitter end to one of the most lucrative production alliances between a major Hollywood studio and an A-list star.
Cruise, one of Hollywood's biggest stars, has been known more recently for his antics on US television talk shows, including jumping up and down on Oprah Winfrey's couch to declare his love for Katie Holmes and criticising the use of anti-depressant drugs.
It appears not even Cruise's roadside efforts earlier this month were enough to save the Hollywood actor from the chop.
A rep for the couple confirmed that Cruise, 44, and Holmes, 27, were on their way home from the airport after a trip to Salt Lake City, Utah, for an exhibition soccer game, when they saw a couple on the freeway who had apparently just been involved in a car accident.
The engaged pair and parents to 4-month-old daughter Suri checked to make sure the passengers, Jon Henningsen and his wife, were not seriously injured, then waited with them until the emergency services teams arrived.
"As much as we like him personally, we thought it was wrong to renew his deal," Redstone was quoted as saying.
"His recent conduct has not been acceptable to Paramount."
Cruise's representatives and officials from Viacom and Paramount did not have any immediate comment on the report.
Last month, the Los Angeles Times reported that Paramount Chairman Brad Grey had informed representatives for Cruise and his production partner, Paula Wagner, that the studio planned to slash the amount it spends on their company, Cruise/Wagner Productions.
Months ago, Grey was one of several movie industry executives who publicly rallied to Cruise's defence to insist that his status and popularity were undiminished.
They were reacting to a USA Today/Gallup poll in which half of those surveyed registered an "unfavourable" opinion of the actor.
Many cited his off-screen behavior during the past year, including his outspoken defence of his religion Scientology and his blunt criticism of psychiatry and actress Brooke Shield's treatment for postpartum depression.
-News.com.au