LOS ANGELES (Reuters) – Seeking to end speculation that superstar Tom Cruise may soon leave Metro-Goldwyn-Mayer’s United Artists film label, MGM Chairman Harry Sloan said on Thursday the actor will stay a “full partner” at the studio.
“He will continue as our full partner in control of UA. He is in the middle of one of the greatest careers our industry has ever seen and one that will continue at the top of United Artists Entertainment,” Sloan said in statement.
One day earlier, Cruise’s long-time producing partner Paula Wagner left her post as chief executive of UA to return to making movies instead of running the specialty film company.
MGM said in a statement late Wednesday that Cruise would remain with UA, but speculation continued in Hollywood on Thursday that Cruise might soon leave.
Cruise and Wagner, who was Cruise’s producing partner on movies such as the “Mission: Impossible” series, acquired around 30 percent of the MGM division nearly two years ago to revive the studio formed by Hollywood luminaries Mary Pickford, Charlie Chaplin, Douglas Fairbanks and D.W. Griffiths.
But under Wagner’s tenure, UA released just one movie, “Lions for Lambs,” that flopped at box offices, and they have seen their World War II drama “Valkyrie” delayed.
Still, Wagner left with several high-profile projects in development including “Ranger’s Apprentice” from Oscar winner Paul Haggis and “Champions” by Guillermo del Toro.
Wagner retained her ownership stake in UA, and the studio continues to operate with a full staff that includes Chief Operating Officer Elliot Kleinberg.
(Editing by Richard Chang) (Source: Yahoo! News)
Paula Wagner leaving UA as chief executive
LOS ANGELES – Tom Cruise’s producing partner Paula Wagner said Wednesday she will leave her job as chief executive of United Artists to produce projects independently.
Wagner will continue to co-own the studio with Cruise and “be attached to UA’s most exciting film properties,” UA and its parent company Metro-Goldwyn-Mayer Inc. added in a joint statement.
Cruise and Wagner were brought in to head UA in November 2006.
She said she still believes in the vision she and Cruise have for the film studio that was formed nearly 90 years ago by Hollywood actors including Charlie Chaplin and Mary Pickford.
“I am proud of all that we’ve accomplished in the past two years,” she said.
However, the effort has faced challenges.
The studio flopped on its first production attempt with last year’s political thriller “Lions for Lambs,” which was estimated to have lost about $30 million. Wagner has said the company took a modest financial risk with the film but its symbolic benefits were invaluable.
UA’s second effort “Valkyrie,” starring Cruise as a Nazi army officer executed after a failed attempt to assassinate Adolf Hitler, has been delayed a few times.
In April, UA pushed back the release date from Oct. 3 to February 2009. MGM announced Wednesday the film would be released Dec. 26.
“We saw and tested the movie, and we believe a strong movie deserves a strong play date,” said Clark Woods, president of MGM Distribution. (Source: Yahoo! News)
