Goodbye paramount Hello Daniel for Tom Cruise

By admin on August 30th, 2006

After splitting between Paramount Pictures and Tom Cruise, tom got a new home. Tom Cruise and production partner Paula Wagner have already found someone to pay for their upkeep after last week’s split with the movie powerhouse: Washington Redskins owner Daniel Snyder.

The football-loving tycoon has signed a two-year renewable deal with Cruise/Wagner Productions to cover the Hollywood team’s overhead and development. Financial details have not been made public, but Cruise’s previous 14-year deal with Paramount had garnered as much as $10 million per year for salaries, expenses and discretionary spending — and he and Wagner had shunned the latest $2 million offer from the studio.

The new backer has a palpable track record of shaking up companies. Snyder effectively turned the Redskins into an NFL marketing machine, after he purchased the team and its stadium for $800 million in May 1999. Now the team is ranked by Forbes as the richest franchise in U.S. sports, worth $1.3 billion.

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