Tuesday, August 8, 2006
The Cruise begins to crumble....
I'll let you read, then giggle to your heart's content. Because the formula for a star is as follows: star = bankability + recognizability
and if you're no longer bankable, well.....
off of SFgate:
Cruise's Paramount Pay Cut
Hollywood megastar Tom Cruise has reportedly been given a pay cut in his production deal with Paramount Pictures.
The actor and his business partner Paula Wagner's previous deal allowed them a budget of up to $10 million a year to cover overheads and develop films through their company Cruise/Wagner Productions.
According to the Los Angeles Times, new Paramount head Brad Grey -- who took over last year -- told Cruise's company the studio was not in a position to renew the same contract after it expired last month.
Paramount funded Cruise's latest movie, "Mission: Impossible III," which is expected to take up to $400 million in the international box office, but due to Cruise's expected profit margin, the studios will only just break even.
The actor's lawyer Bertram Fields says, "We received an offer and we are digesting it. We will sit and talk about it. It is not the case that they said this is a take-it-or-leave-it offer. I don't think my friends at Paramount would ever talk that way."
Paramount spokeswoman Janet Hill says, "We have the utmost respect for Tom Cruise and Cruise/Wagner Productions. We are currently in discussions to renew their deal."
The Times claims Paramount has offered Cruise $2 million a year in a prospective new deal, which means the actor will have to pay his staff himself.