Mission: Impossible III

According to Wall Street Journal the Paramount Pictures is ending its 14-year relationship with Tom Cruise’s production company, Cruise/Wagner Productions. The move comes after months of speculation about the future of their Paramount-based company as the Aug. 31 expiration of their current contract approached.

Viacom Inc. (parent company of Paramount) Chairman Sumner Redstone told the Wall Street Journal that they were not renewing the deal because of his off-screen behavior and status which had been damaged by his conduct during the past year.

As much as we like him personally, we thought it was wrong to renew his deal. His recent conduct has not been acceptable to Paramount.
- said Redstone -

However, Wagner said that setting up an independent production company “is a dream of Tom and mine” saying that Cruise’s behavior had cost the studio ticket sales, pointing out that the star’s movies have made the studio a huge amount of money. Five Paramount films starring Tom Cruise and produced by his company during the past decade have grossed more than $2 billion worldwide.