Cruise 'still partner' at United

Cruise takes the lead role in the forthcoming UA film Valkyrie

Hollywood actor Tom Cruise is to remain a "full partner" at film company United Artists, MGM's chairman has said.

Harry Sloan made the statement to put an end to speculation that the star was poised to leave the film label, which is owned by MGM.

"He will continue as our full partner in control of UA," the statement said.

The speculation comes after Cruise's producing partner, Paula Wagner, said she was standing down as chief executive of UA on Wednesday.

"He is in the middle of one of the greatest careers our industry has ever seen and one that will continue at the top of United Artists Entertainment," Mr Sloan added.

Film flop

Wagner said she was leaving her post to return to making movies instead of running the speciality film company, but retains her stake in the business with Cruise.

The pair were brought in to head UA in November 2006 and acquired a 30% stake in the company.

However, United Artists has faced unexpected challenges. The first release under Wagner, the 2007's political thriller Lions for Lambs, flopped at the box office and was estimated to have lost about $30m (£16m).

UA's second effort Valkyrie, starring Cruise as a Nazi army officer who was executed after a failed attempt to assassinate Adolf Hitler, has also been hit by delays.