Tom Cruise revives film company

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The film company run by Tom Cruise and Chief Executive Paula Wagner has raised $500 million to fund 15 to 18 movies over the next five years. United Artists was revived last year by Cruise, Wagner and their studio partner Metro-Goldwyn-Mayer Inc. after being dropped by long-time studio partner Paramount Pictures following the disappointing American release of “Mission: Impossible III”. Warner called the financing by Merrill Lynch “a milestone event” for United Artists, who are expecting to release four to six films a year. First up is Robert Redford’s drama “Lions for Lambs” due to be released in November.

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