Tom Cruise has severed his ties with Paramount Pictures after 14 years.

The studio told the Wall Street Journal  that they had decided not to renew his contract because "his recent conduct has not been acceptable".

It is thought that Cruise�s outspokenness about the use of anti-depressants and his relationship with Katie Holmes may be contributing factors.

However, his business partner Paul Wagner has said that the Hollywood superstar chose to leave Paramount himself.

He told the Associated Press: "For us this is a very new and exciting direction. We look forward to working with all the studios."

He later hit out at the Paramount comments in a separate interview with Reuters, saying: "Whatever remarks Mr Redstone would make about Tom Cruise personally or as an actor have no bearing on what this business issue is."

"There must be another agenda that the studio has in mind to take one of their greatest assets and malign him in this way."