Cruise Finds New Backers
It didn't take long for Tom Cruise and his production partner Paula Wagner to find others to back their production company after Paramount dumped it. The two said Monday that they had secured financing from First and Goal LLC, headed by Washington Redskins owner Daniel M. Snyder, Six Flags Inc. Chairman Mark Shapiro and NVR Inc. Chairman Dwight Schar. Today's (Tuesday) Los Angeles Daily News said that the three had agreed to put up $3 million. In a statement, Wagner said, "We are entering into what we know will be a profitable relationship with unlimited creative and financial potential." However, finding a company to cover the overhead of Cruise/Wagner Productions is one thing. Finding financing for their movies is quite another thing. Today's Los Angeles Times reported that Cruise/Wagner Productions had been attempting to find another home at a Hollywood studio without success, with three studios turning down the company's terms. One agency executive told the newspaper: "This [deal] feels very Plan C, maybe even Plan D. When you lose your studio deal and you get into business with amusement parks, that's a problem."