Tom Cruise and the Prestige of United Artists



What do Tom Cruise and Charlie Chaplin have in common? Well, for one, both are acknowledged masters of slapstick -- Cruise's talents being unintentional, and on Oprah's couch (Exaggerated cough suggesting feigned detachment). Second, they both like their women looking on the youngish side. And now the glamorous, prestigious United Artists.

Much ado has been made of late about the "new studio model," where, as traditional studios gamble on massive tentpole pictures -- think: "Pirates of the Carribean" -- there is a void for mid-size, indie-ish pictures. Enter: the moneymen t hedge funds as sources of financing. The prestigious UA, which oneophile Francis Ford Coppola once pined for, is now Tom Cruise occupied territiory. From the Old Gray Lady:

"Tom Cruise has finally found a home. Mr. Cruise and his producing partner, Paula Wagner, have become partners in United Artists, the storied production company started by Charlie Chaplin and Mary Pickford.

"Ms. Wagner will be named chief executive of United Artists and Mr. Cruise will be a producer associated with the studio. The two will have authority to produce about four movies a year. The movies will be distributed by MGM, whose chairman and chief executive, Harry Sloan, announced the changes today.

"Mr. Sloan and his team have been working to revive MGM, which owns the United Artists division, as a full-blown movie and television distribution company.

"The arrangement represents a is a welcome turn for Mr. Cruise, whose producing deal at Paramount Pictures was severed this summer after executives complained it was too costly. Last year, several producers in Hollywood had sought to buy United Artists but were unsuccessful. The deal with Mr. Cruise and Ms. Wagner offers the prospect of future expansion at the unit."