Actor Tom Cruise To Run MGM’s United Artists Studio
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
Actor Tom Cruise, who was fired by Viacom Inc. Chairman Sumner Redstone, formed a partnership with Metro-Goldwyn-Mayer Inc. to run the studio’s United Artists unit.
Mr. Cruise and his partner, Paula Wagner, will own a stake in United Artists and set the studio’s production slate, with authority to approve film productions with some restrictions, Los Angeles-based MGM said today in a statement.
The agreement provides Cruise/Wagner Production a new home after Viacom’s Paramount Pictures declined to renew its contract in August. Mr. Redstone accused Mr. Cruise, whose movies have earned more than $2.9 billion at the box office, of hurting sales of “Mission Impossible III” with his conduct. UA, which has been producing art-house films, will make four movies a year.
Films produced by Mr. Cruise and Mrs. Wagner include the “Mission Impossible” movies, “War of the Worlds” and “The Last Samurai.”
MGM will handle worldwide distribution, according to the statement. MGM is controlled by Providence Equity Partners and Texas Pacific Group along with industry partners Comcast Corp. and Sony Corp. of America.
