Tom Cruise’s Partner Paula Wagner Quits
August 14th, 2008
Paula Wagner, longtime business partner of Tom Cruise, announced that she is stepping down from her position as CEO of United Artists, but will continue to be a part owner of the company.
The pair took over the ailing UA, along with Metro-Goldwyn Mayer, in November 2006, but to date the studio hasn’t scored a box office hit.
In a statement released on Wednesday (August 13), Wagner said:
“I’ve truly relished working with my longtime partner Tom Cruise to revitalize United Artists, and I am proud of all that we’ve accomplished in the past two years, reinvigorating the brand and developing such a strong slate of films. But I always tell my sons, ‘Follow your passion’ — and I’ve got to follow that advice myself.
“As much as I’ve enjoyed my time as an executive, I have longed to return to my true love, which is making movies, so that’s what I’ve decided to do. I still believe in our vision for UA, and I am confident that Harry Sloan and our colleagues at MGM will see that vision through to reality.”
UA and it’s parent company released a joint statement saying, “Nothing will change in regard to Cruise’s involvement with UA, and he continues to have a substantial ownership interest in the company. Furthermore, Cruise and Wagner will continue to work on film projects together.”
Photo courtesy of Paramount Pictures.
August 17th, 2008 at 7:27 pm
I’m only sorry she’ll loose so much money when this nut causes their business to tank because he can’t keep his beliefs to himself.