In spite of all the hype about what a great year Hollywood is having, the realities have already set in that they won't be able to produce films financially the way they have been in the recent past. One of the moves that are being made by studios is to lower the pay to huge stars.
One example of why this must happen is the case of Paramount and their funding of Cruise's "Mission: Impossible III." While it is projected to take in a huge $400 million worldwide, Paramount will be left out in the cold with only breaking even. The reason why? The profits Cruise will receive in the deal.
As a result Paramount has said it isn't in a position to renew the deal with Cruise and his partner Paula Wagner, which involved a budget that allowed up to $10 million a year for their company to produce films and to pay their overhead.
SFGate.com quoted Cruise's lawyer, Bertram Fields as saying, "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."
According to the Los Angeles Times, Paramount has offered Cruise's company $2 million a year. If he accepts it, he'll have to pay his overhead himself. Welcome to the new Hollywood.
First i have to give it up to god.Tyler i feel you i been on the same road but it was my mother instead but god know's what's best i love all your movie's iam from montross va.
Posted by: Kimberley | August 8, 2006 10:21 AM | Permalink to Comment