Heralding the start of an unusual entrepreneurial relationship, Tom Cruise and his producing partner have joined forces with a new investment partnership that will fund the duo's production endeavors for the next two years.
According to the Washington Post, the announcement comes less than a week after Viacom Inc. and its Paramount Pictures unit revealed they had ended negotiations to renew the studio's 14-year deal with the insane actor. Viacom chairman Sumner Redstone fired the nutjob last week, stating bluntly that Cruise had committed "creative suicide."
Paula Wagner, Cruise's colleague and production partner in Cruise/Wagner Productions, quickly countered that C/W was not planning to renew anyway, and planned to seek other options, including a deal with hedge funds to provide about $100 million in financing.
Their new deal is with Daniel Snyder (the inept owner of the Washington Redskins), Dwight Schar (chairman of homebuilder NVR Inc.) and Mark Shapiro (President and CEO of Six Flags). Snyder, Schar and Shapiro have formed an investment partnership, First and Goal LLC.
The newly-founded corporation, which should be called Fourth and 17 LLC, in honor of the Redskins, will invest in C/W, providing the actor and his backers with development and overhead funds under a two-year deal with the option to renew long term.
"Dan Snyder and Mark Shapiro are proven winners. Paula and I look forward to many mutual successes," Cruise.
Once again, Cruise proves he's out to lunch. Proven winners? The Redskins suck! Wow, one winning season since 1999 after signing every free agent imaginable. Congratulations, Daniel Snyder. Apparently producing one winner every six movies is satisfactory for Cruise going forward. Hope he, his disheveled fiancee and fake daughter are happy.