Cruise Makes 'Impossible' Possible

After more than a week of haggling over costs, Tom Cruise and Paramount Pictures have reached a deal that will allow "Mission: Impossible 3" to move ahead with filming in Italy next month.

Paramount Pictures chairman and chief executive officer Brad Grey announced the agreement in a statement Tuesday. Filming will start July 18 on the third installment in the action-adventure series, which is a remake of a popular 1960s TV show.

The film will be directed by J.J. Abrams, who joined the project last August, and will be produced by Cruise and his partner, Paula Wagner.

"Tom's history with Paramount has made for one of Hollywood's most successful relationships; the opportunity to continue our collaboration with him on `Mission: Impossible 3' is everything anyone in show business could hope for," Grey said.

The deal fell into place after Cruise agreed to adjust his lucrative profit participation deal and shave a budget that had swelled to as much as $185 million, the Los Angeles Times reported.

The movie will feature Cruise and co-stars Ving Rhames, Jonathan Rhys Meyers, Michelle Monaghan and Philip Seymour Hoffman. It is set for release on May 5, 2006.

The first "Mission: Impossible" movie came out in 1996 and was directed by Brian De Palma. John Woo directed "Mission: Impossible II," which was released in 2000.

Paramount, like CBSNews.com, is owned by Viacom, Inc.

Comments

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.

Download
The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App