Tom Cruise Announces Breakup

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No, not with Katie Holmes - although some of Katie's recent fashion and hairstyle decisions would certainly warrant it in the opinion of some.

Tom Cruise is splitting with longtime business partner Paula Wagner, who's exiting as CEO of United Artists to produce projects independently.

Trying to Look Taller

In a statement, she stressed that she will continue to co-own the studio with Tom Cruise and "be attached to UA's most exciting film properties."

Cruise and Wagner were hired to head UA in November 2006. The same year, Paramount Pictures ended a long 14-year relationship with Cruise-Wagner Productions, Cruise's production company, citing his erratic behavior.

Their two years at UA were rocky. The 2007 political thriller, Lions for Lambs, lost an estimated $30 million. Their second effort, Valkyrie — starring Cruise as a Nazi commander plotting to kill Hitler — keeps getting delayed.

Paula Wagner's departure comes as rumors swirl that Cruise is trying to makeover his own career, aiming for more comedy than action roles.

He currently stars in Tropic Thunder, and is eyeing the comedy Food Fight about a snooty New York chef forced to cook meals at a school cafeteria.

Either way, that Suri Cruise is a cutie. No one can take that away.

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