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Earlier this summer, a studio head chided Lindsay Lohan for her behaviour on a movie set in a letter leaked to the press, and an ABC deal with Mel Gibson's production company to produce a four-part series on the Holocaust was cancelled after his alleged anti-Semetic remarks during a drunk-driving arrest. Tom Cruise's production company has signed a two-year financing deal with an investment partnership after breaking ties last week with Paramount Pictures. Cruise's first post-Paramount professional announcement was underwhelming for a star who had generated $3 billion at the box office in his 14 years at the studio. In August, Cruise/Wagner secured a two-year financing deal with First and Goal L.L.C., an investor group headed by Daniel Snyder, owner of the Washington Redskins and chairman of the Six Flags amusement parks. Since then, Cruise seemed more interested in cheering at his kids' soccer games and planning his wedding to Katie Holmes this month in Italy than acting or deal-making. What emerged was what Ms. Wagner describes as a hybrid between a studio and a production company.
Box Office
Cruise/Wagner Productions, also abbreviated as C/W Productions, was an American independent film production company. Wagner had been representing Cruise for eleven years before the formation of C/W Productions. The company has grossed more than $2.9 billion in box office proceeds since its inception.
Category:Cruise/Wagner Productions films
Wagner and Tom Cruise were the founders, it has grossed more than $2.9 billion in box office proceeds since its inception. Ms. Wagner carries herself with the poise of someone who once worked as a theater actress and a talent agent before becoming Mr. Cruise’s collaborator and the public face of his entrepreneurial and filmmaking ambitions. Mr. Cruise declined to be interviewed for this article, because, Ms. Wagner says, he prefers that she speak publicly about their mutual business interests. All of them experienced mixed results as they ran up against the brutal economics of a hit-and-miss industry in which independents often lack the size needed to overcome the financial vagaries of filmmaking. According to people involved in the talks, the question of whether Mr. Cruise, whom Mr. Sloan did not know previously, was past his prime or a loose cannon came up, particularly among MGM’s private equity investors.
Hitting It Hard
First & Goal was specifically set up to invest in Cruise/Wagner, as Snyder moves from sports to entertainment along with partners Dwight Schar, chairman of homebuilder NVR Inc., and Mark Shapiro, president and CEO of Six Flags Inc., the amusement park chain where Snyder serves as chairman of the board. Last week, Wagner said her company had secured funding from two hedge funds, a separate arrangement from the deal with First & Goal. Learn how this low-budget film influenced the plot, the production design, and even the lighting...
The 411 On Tom's Partner Paula Wagner
Through Cruise/Wagner, the actor has produced all of the Mission Impossible films alongside playing the lead role, alongside the Jack Reacher series and other films. Sounds like a boring behind-the-scenes detail about film production, but it’s actually quite a significant move in the career of the world’s biggest action star. If all goes as planned, United Artists will announce as soon as this week a debt financing of $400 million to $500 million to finance its first slate of pictures, backing that includes $100 million from MGM itself.
Cruise’s production company Cruise/Wagner Productions acquired the film rights to Jack Reacher back in 2005. The project lingered in limbo for a few years, finally getting a kickstart when McQuarrie was hired to revise the script, an adaptation of the ninth Reacher novel, One Shot. It went into production at a pivotal moment in Cruise’s career as well as McQuarrie’s.
Take That, Sumner! Tom Cruise Gets His Own Studio
This was the film production company of actor Tom Cruise and his former agent Paula Wagner, formed in July 1992 and often known as C/W Productions. At the time the company was formed, Wagner had been representing Cruise for 11 years. The company was formed to give Cruise more creative freedom over his film projects and to give him the opportunity to produce and direct motion pictures. Cruise/Wagner Productions, also abbreviated as C/W Productions was an American independent film production company. UA's future seemed uncertain after Sony, Comcast and a group of private equity firms acquired its parent MGM in 2004.
Francis Ford Coppola’s ‘Megalopolis’ Faces Uphill Battle for Mega Deal: “Just No Way to Position This Movie”
The announcement that Cruise has now tied his mast to the Warner Bros. ship is therefore a big boon for the production studio. Discovery CEO David Zaslav has said he wanted to work with more top talent both in front and behind the camera, and you can’t get much bigger than Cruise. With computer genius Luther Stickell at his side and a beautiful thief on his mind, agent Ethan Hunt races across Australia and Spain to stop a former IMF agent from unleashing a genetically engineered biological weapon called Chimera. This mission, should Hunt choose to accept it, plunges him into the center of an international crisis of terrifying magnitude.
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The centerpiece of the meeting was a four-hour pow-wow with Jonathan M. Nelson, the chief executive of Providence Equity, whose 29 percent stake in MGM makes it the studio’s single largest shareholder. According to two people who would not agree to be named because it was a private meeting, Mr. Nelson was there to scope out Mr. Cruise’s intentions for UA before signing off on the deal. Kelvin L. Davis, a partner at Texas Pacific who serves on MGM’s executive committee, said he came away from his initial meeting with Mr. Cruise impressed by his business acumen and his curiosity about the financial goals of his prospective backers. But the investors, unhappy with MGM’s performance under the Sony strategy, changed course after a year and installed Mr. Sloan, an MGM director, as the studio’s chief executive.
Zaslav met Paramount Global CEO Bob Bakish in December about a potential deal between the $29 billion (€26 billion) and $10 billion (€9 billion) companies, respectively. Cruise himself said that “I have great respect and admiration for David, Pam, Mike, and the entire team at Warner Bros. Discovery and their commitment to movies, movie fans, and the theatrical experience,” in a Warner Bros. press release.
The film follows the life of famous 1970s runner Steve Prefontaine from his youth days in Oregon to the University of Oregon where he worked with the legendary coach Bill Bowerman, later to Olympics in Munich and his early death at 24 in a car crash. Wagner slammed Redstone last week, calling his comments "surprising" and unbusinesslike. She said it was their decision to walk away from a 14-year partnership with Paramount.
But when he saw Mr. Cruise’s broad smile flashed across the evening news during the Paramount dust-up, he decided to give him and Ms. Wagner the UA shingle to hang. Mr. Cruise is not obligated to appear in any UA films, though the incentive of owning a large chunk of the print, as well as the bragging rights and perquisites that entails, is meant to be a strong motivator for him to ply his “day job — or night job,” as Ms. Wagner puts it, at UA. Journalist Stephen Glass, who rose to meteoric heights as a young writer in his 20s, becoming a staff writer at The New Republic for three years. Looking for a short cut to fame, Glass concocted sources, quotes and even entire stories, but his deception did not go unnoticed forever, and eventually, his world came crumbling down.
Beyond saying that the plan is to live up to the United Artists legacy of making talent feel like partners rather than employees, and a goal of releasing four to six films a year distributed by MGM, Ms. Wagner says that little else is set in stone. Sumner M. Redstone, the chairman of Viacom, Paramount’s owner, contended that he had fired Mr. Cruise for “inappropriate” behavior that had hurt his studio’s bottom line. Mr. Cruise’s defenders accused Mr. Redstone of grandstanding and said that, actually, both sides had already been planning to part amicably. The latter is responsible for some of the best work of Cruise’s late-stage career, and the former got McQuarrie what’s now clearly a much-deserved second chance as a director. Neither would be where they are now without the other, or without a 6’5”, 250-pound ex-military drifter whose pecs are so big they have rendered him immune to bullets. What is extraordinary is everything else about it, from DP Caleb Deschanel’s work behind the camera (the way that he stages the aforementioned shooting through the scope of the sniper’s rifle is inspired) to a stacked cast that includes everyone from Werner Herzog to Robert Duvall.
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