According to Variety and the Wall Street Journal, Tom Cruise and Paramount have worked together for 14 years, through Cruise/Wagner Productions. Cruise, 44, now plans to launch his own independent production company.
Currently Cruise and his partner Paula Wagner are speaking with other distributors.
Brad Grey, one of the directors at Paramount, feels that their affiliation with Cruise/Wagner simply became too expensive. Chairman Sumner of the Viacom division said, "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."