(FROM AP) — Tom Cruise’s producing partner Paula Wagner has announced that she is leaving her position as chief executive of United Artists, though she will still co-own the studio with Cruise. UA and its parent company Metro-Goldwyn-Mayer Inc. (MGM) said in a joint statement that Wagner, who has run UA with Cruise since 2006, will continue to be attached to the studio’s ”most exciting properties” even though she will move on to produce projects independently. Wagner and Cruise’s first UA production attempt, last year’s political thriller Lions for Lambs, which starred Cruise, Robert Redford, and Meryl Streep, was estimated to have lost about $30 million. The studio’s follow-up project, Valkyrie, which stars Cruise as a Nazi army officer executed after a failed attempt to assassinate Adolf Hitler, has undergone a series of delays but is now set to release on Dec. 26. (AP via Yahoo!)
Posted August 14 2008 — 12:00 AM EDT
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