Paula Wagner Steps Down from UA

It’s all about Tom Cruise tonight, isn’t it? Now his longtime producing partner Paula Wagner is stepping down from her post as CEO of United Artists.

According to a joint statement from UA and MGM, Wagner “has decided to leave her day-to-day responsibilities and return to her first love, which is producing films.” She and Cruise were brought aboard to revive UA in November 2006, and she’ll retain part ownership in the company.

As to whether she’ll continue working with Cruise, reports vary. The Hollywood Reporter says she won’t be partnered with Cruise going forward. ETOnline says they’ll continue to work on film projects together.

She and Cruise worked together on Lions for Lambs, a dismal failure at the box office. Their second UA project, Valkyrie, is now scheduled for a Dec. 26, 2008 release.

This seems major, especially since the news comes just weeks after Wagner’s husband, Rick Nicita, who’d been Cruise’s longtime agent, exited Creative Artists Agency to join production company Morgan Creek. People on the move…what’s it all mean…?

Image: Picapp.com