Tom Cruise to Take a Pay Cut

The star and his company, Cruise/Wagner Productions, will need to accept less money in order to make more movies.

According to the Los Angeles Times, Paramount Pictures previously had a contract with Cruise and his company which allowed him up to $10 million per year to develop movies.  With the contract expiring last month, Paramount has announced that they will not be renewing the arrangement.  According to industry insiders, Cruise has become too expensive to employ.

Paramount Pictures is expected to earn more than $400 million for Cruise’s last film, Mission: Impossible III, although with Cruise’s huge paycheck, the company will merely break even on their investment.