Date: 6th November 2006

Cruise signs film studio deal

Tom Cruise has joined the management of film studio United Artists after agreeing a deal with its owner, MGM.

The new role will see Cruise produce at least four films a year as well as taking an unspecified stake in the company.

Earlier this year he severed ties with Paramount Pictures after a 14-year working relationship.

Cruise's business partner at Paramount, Paula Wagner, is also moving to United Artists as its chief executive officer.

According to the BBC MGM spokesman Jeff Pryor said: "We were looking for a strategic partner (for UA) and we've found a strategic partner and it just so happens that he's the biggest star in the world."

Source: Press Release