Tom Cruise to take a pay cut

Tom Cruise is to take a £5 million a year pay cut, according to reports.
The actor is to see his extravagant wages slashed after an exclusive
contract - which saw him earn around four times the amount made by his
Hollywood peers - expired yesterday (31.07.06).

According to the Los Angeles Times newspaper, the deal with Paramount
Pictures meant the 44-year-old actor, and his long-time production partner
Paula Wagner, received a whopping £6 million every year on top of Cruise's
acting earnings.
The decision has reportedly been made to limit the actor's earnings,
following the world-wide success of 'Mission: Impossible III' which pocketed
Cruise an estimated £50 million.
The new deal offered to the 'Top Gun' actor is believed to be worth around
£1.25 million a year.
Cruise and Wagner are yet to agree to Paramount's new offer but are
considering it
Wagner said: "We, Cruise-Wagner, do not negotiate in the press. They have
made what we would consider a generous offer."
Cruise's attorney, Bertram Fields, has also confirmed a new offer is on the
table and negotiations are under way between the studio and the actor.
Fields said: "We will sit and talk about it. It is not the case that they
said this is a take-it-or-leave-it offer. I don't think my friends at
Paramount would ever talk that way."

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