Paula Wagner

Paula Wagner

Cruise/Wagner Productions was an American independent film production company. The company was founded by actor Tom Cruise and former casting agent Paula Wagner. Cruise/Wagner was formed to give Cruise more control over the projects that he acts in and retain more of the profits. The company has grossed more than $2.9 billion in box office proceeds since it was founded in September 1993. Cruise/Wagner previously had an exclusive deal with Paramount Pictures, but in August 2006 Sumner Redstone, chairman of Viacom (parent company of Paramount Pictures) terminated that relationship citing Cruise's comments in the media about psychiatry, anti-depressants and Brooke Shields' handling of postpartum depression, and his taking up Scientology. However, the termination may have been more about money than anything else. Daniel Snyder, owner of the Washington Redskins and two hedge funds immediately stepped in, and in less than a week, secured financial backing. In November 2006, Metro-Goldwyn-Mayer came to Cruise/Wagner with a deal that gave them a percentage of the ownership in United Artists in an effort to revive the floundering production company. This deal unspooled less than two years later in August 2008, when Wagner left the studio.

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