After his famous falling out with Paramount, with whom he parted ways after the disappointing performance of MI:3, Tom Cruise has secured the last laugh, by taking charge of his own studio.
In partnership with MGM, Cruise and long-term co-producer Paula Wagner will resurrect United Artists, the studio originally founded by actors Douglas Fairbanks, Charlie Chaplin, Mary Pickford and D.W. Griffith and responsible for such franchises as Rocky, James Bond and Pink Panther.
Under the agreement Wagner will oversee the daily running of the studio, with Cruise starring in and producing films for the studio. He'll also be free to act in projects for other studios. Initially the studio will aim to release four films per year.