MGM Backs Cruise

LATEST: Bosses at MGM studios have given their backing to TOM CRUISE - insisting the Hollywood actor is perfectly capable of running United Artists (UA) on his own.

Cruise and his production partner Paula Wagner stepped in to take over the film company in 2006, running it on behalf of MGM studios, after the movie star fell out with Paramount Pictures, his home studio for many years.

But Wagner announced earlier this week (beg11Aug08) that she is to quit her post at the helm of UA to pursue projects independently. And although she will retain her co-ownership of the firm, she will no longer be involved in running the business.

And MGM chairman and CEO Harry E. Sloan has now issued a statement giving his full support to the Cruise.

It reads, "I would like to clarify that we are honoured that he (Cruise) will continue as our full partner in control of UA. He is in the middle of one of the greatest careers our industry has ever seen and one that will continue at the top of United Artists Entertainment."