Well, while Paramount is probably happy to be rid of the deal for financial terms (as Alex said), I have no doubt that they're happy to have him off their hands for other reasons as well.

These other reasons probably have nothing to do with his couch jumping and crazy, crazy eyes.

During the filming of-- I can't remember if it was MI III or War of the Worlds--Cruise had an item in his contract that allowed him to set up a Scientology booth on-set and solicit the production staff/cast/etc. Also, his contract once included requiring all producers to take a tour of the Scientology facilities with him. That would make me want to shake him loose even if financial dealings were fine.

As an aside on the financial issues, Paramount is in a fair bit of trouble. They recently overpaid for Dreamworks and the reason they were willing to do so is because their inhouse development had almost completely halted and the slate of films under development by Spielberg and company provides nice cover for that. Almost every film released by Paramount in the next 18 months will be one developed by SKG and not Paramount.

Simply put, I wonder if Paramount is in a position that it can afford Cruise. If Cruise is willing to cut his price for whatever he wants to do next I have no doubt Paramount would be more than happy to continue working with him. Polls may show his popularity dropped but M:I:III still made $400 million worlwide and will make another $150-$200 million in the secondary markets. His film before that made almost $600 million.

Mr. Cruise isn't going to have any problem finding work and he'll probably still get it on his terms.

Howard Stern went off on Paramount today for their spin on the story. Tom and his behavior have been sources of ridicule on the show historically, but on this one, Howard sided with Cruise. He talked about the way viacom reacted to his own departure and the way that Chevy Chase was dumped by Fox to show that saving corporate face usually includes spin that borders on slander. He advised Katie Couric to watch her back.

In the entertainment industry, everyone should watch their backs.