13:30 23 August 2006
Paramount Pictures bosses have ended Tom Cruise's production deal with them after 14 years.
The studio's chairman Sumner Redstone said the reason for the decision was the 'Mission: Impossible III' star's public outbursts.
Redstone told the prestigious Wall Street Journal newspaper: "His recent conduct has not been acceptable to Paramount.
"As much as we like him personally, we thought it was wrong to renew his deal."
Sumner's comments are believed to refer to the series of embarrassing headline grabbing antics including Tom's now infamous couch-jumping display on 'Oprah', his very public engagement to Katie Holmes and his controversial Scientology views on issues such as the use of antidepressants.
Tom's business partner Paula Wagner has hit back at the comments calling them "offensive" and "undignified".
She blasted: "Whatever remarks Mr. Redstone would make about Tom Cruise personally or as an actor have no bearing on what this business issue is.
"There must be another agenda that the studio has in mind to take one of their greatest assets and malign him this way."
Paula also claims that it was their decision to part company with Paramount.
(C) BANG Media International