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Tuesday, August 22, 2006

Will hedge funds get behind Tom Cruise?

The Wall Street Journal has a piece (subscription required) about the split between Paramount and Tom Cruise's production company, Cruise/Wagner Productions.

There's an interesting hedge fund element to the piece. Merissa Marr writes:

    ...Mr. Cruise's representatives...said that Mr. Cruise's production company had decided to set up an independent operation financed by two top hedge funds, which they declined to name. Paula Wagner, Mr. Cruise's partner in the company, said such an arrangement represented a new business model for top actors prominent enough to take advantage of the flood of money coming into Hollywood from Wall Street.


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