Sumner Redstone, chairman of Paramount owner Viacom, gave an extensive interview to The Wall Street Journal today, saying that Cruise's increasingly eccentric behaviour and devotion to Scientology are hurting ticket sales for the star's films, and that is why the contract is over.
But other sources quote representatives of Cruise, saying that he ended the relationship. Instead, he plans to run an independent production company, and already has backing from hedge funds to the tune of $100m (£56m).
The pertnership had been between Cruise/Wagner Productions and Paramount, with Cruise and business partner Paula Wagner paid up to $10m a year to develop films, according to the WSJ. Cruise/Wagner is credited as the production company on numerous Tom Cruise vehicles including 'Vanilla Sky', 'War of the Worlds', 'The Last Samurai' and the 'Mission: Impossible' films, including the latest film 'MI:3', which also starred Philip Hoffman.
Redstone was critical not of Cruise's talent. He told the WSJ: "It's nothing to do with his acting ability, he's a terrific actor. But we don't think that someone who effectuates creative suicide and costs the company revenue should be on the lot."
Among the antics that have brought notoriety to Cruise are jumping up and down on a sofa during an appearance on 'The Oprah Winfrey Show' when talking about his love for fiancée Katie Holmes; and criticising Brooke Shields after she said she had taken anti-depressants to help her deal with post-natal depression. His involvement with Scientology has also brought ridicule.
The increasingly strained relationship with the press coincides with Cruise firing his long-time publicist Pat Kingsley of PMK in 2004, and replacing her with his sister, Lee Anne DeVette, a Scientologist who reportedly had no PR experience. Subsequently Cruise hired Rogers & Cowan to represent him and his production company.
As well as his own gaffes, Cruise has been dogged by speculation that he is secretly gay, which he denies. Tabloid newspapers are also hinting that something is amiss because the baby his partner Katie Holmes gave birth to earlier this year, Suri, has never been seen in public.
The end of his deal with Paramount could free up the network to screen a controversial episode of the cartoon 'South Park', where Cruise is shown hiding in a wardrobe. The dialogue includes lines such as "It's been four days now and Tom Cruise is still in the closet." The episode has never been shown in the UK.
Cruise has fought to be taken seriously as an actor after making his name as a hunk in teen films such as 'Risky Business' and 'Top Gun'. He has succeeded by taking on more serious projects such as 'Rain Man' and the Stanley Kubrick film 'Eyes Wide Shut', which he filmed with then-wife Nicole Kidman.
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