Mission impossible seems mission possible now

Just a few days after Tom’s kooky behavior led to the termination of his contract with Paramount Pictures, the Mission Impossible star has hooked up with Daniel Snyder, the owner of the Washington Redskins American football team, to finance his films.

The agreement, made between Tom, his film partner Paula Wagner and Daniel Snyder, have put things back on track for the actor.

Wagner said that the new deal will give them an opportunity to discover larger aspects of cinema, as well as providing freedom to continue making both low-budget and big-budget movies outside Hollywood's major studio system.

The two year renewable deal will help Tom raise funds for his forthcoming projects. The investment fund run by Snyder and partners, Dwight Shar and Mark Shapiro will bear the overhead and development costs. However, all of them refused to comment on any financial details.

Wagner said that the deal is more about enhancing everybody’s future rather than anything else.

In addition to his work in front of the camera, Tom had a keen interest in the art of film making. It was in 1993 when Cruise teamed up with Paula Wagner, to form Cruise/Wagner Production. Their first feature film was ‘Mission Impossible’, followed by ‘Without Limits’.

Besides these big-budget films, Cruise/Wagner Production has produced a number of well acclaimed low-budget films.

Prior to forming Cruise/Wagner Productions, Wagner spent almost 15 years as an agent, maneuvering the careers of its clients such as Tom Cruise, Oliver Stone, Demi Moore, Robert Towne, Liam Neeson, Aidan Quinn, Val Kilmer and Kevin Bacon.

Last week, Sumner Redstone, chairman of Paramount's parent company Viacom Inc. refused to renew Cruise’s contract, after seeing the actor’s loopy public behavior and thus the most remunerative production alliance came to an end.

Wagner said that individual film financing and distribution of the films are the areas where the company is still exploring.