With all the talk about the recent discontinuation of the deal between Tom Cruise and Paramount, it didn't take Tom and production partner Paula Wagner long to secure a new agreement. The group includes Daniel M. Snyder, the Washington Redskins owner and chairman of Six Flags Inc.
The deal is reportedly for less than was already turned down by Cruise/Wagner from Paramount; reportedly under $3 million a year. The terms are for a two-year period with the option of renewing it at that time.
The money is for office and staffing expenses. Snyder and his partners (First & Goal LLC) will receive the opportunity to finance movies being produced by Cruise and Wagner.photo credit LILO / SIPA
Cruise will still need to find a company to distribute the films and money to finance the production of the films.
ESPN executive Mark Shapiro will supervise the company's investment in Cruise/Wagner. Wagner added: "This gives us the opportunity to work with all the studios and broadens our base."
Cruise's representative, the talent agency CAA, brokered the deal.
Other coverage of the story:
Tom Cruise Finds a New Movie Partner
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