Paula Wagner

• David Beckham will star in the surprise finale of the August 24 closing ceremony of the Beijing Olympics, when China transfers the honor of the summer Olympics to London for 2012. — People
• Paula Wagner announced yesterday she is leaving her role as CEO of United Artists but will maintain her co-ownership interest with Tom Cruise. — Variety
• The 40-Year-Old Virgin actor Shelley Malil pled not guilty today to charges of premeditated attempted murder after allegedly stabbing his ex-girlfriend 20 times. His bail is set at $10 million. — LA Times
• Oprah Winfrey will attend Obama's acceptance speech at the Democratic National Convention in Denver on Aug. 28, though she is not planning to take the stage. — Entertainment Tonight
• Julia Child is listed as one of the 24,000 spies who helped the US government during World War II as part of the Office of Strategic Services, an early version of the CIA. — YumSugar
• Gael García Bernal and his girlfriend Dolores Fonzi are expecting their first child together. — E! Online

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The Oscars are almost here, but Hollywood is still busy with other awards shows, like the 10th Annual Costume Designers Guild Awards. The trophies merited looks from Blades of Glory, Ugly Betty, and Sweeney Todd. Katie Holmes was on hand to honor Tom's longtime producing partner, Paula Wagner with the Swarovski President's Award last night in Beverly Hills. Considering the show was recognizing the industry's fabulous designers, we were a bit disappointed with what the stars picked out for the event, like Ginnifer's loud little number and Katie's not-so-flattering ice princess look. At least Christian Bale looked dapper as the male representative for the night.

For a video of Katie on stage and lots of other pictures including Kristin Chenoweth, Geena Davis, and Anjelica Huston, just read more

It has been confirmed that Tom and Katie are having a lavish wedding party. Tom's partner Paula Wagner is planning a party for December 9th at her mansion in Beverly Hills. All those friends and family members who didn't attend the Italian wedding will now have their chance to celebrate the big day with Mr. and Mrs. Cruise. US Weekly reports:

The party is fresh on the heels of the couple's 13-day honeymoon. The new Mr. and Mrs. Tom Cruise spent November 19 to December 1 in the Maldives on the Arctic P, a yacht with an onboard doctor (for Suri) and spa therapist.

"It was a family occasion," says a source. "They played with Suri all the time, filming her on a camcorder." On Thanksgiving, the group visited a Fesdu Island resort where, says a source, "they sunbathed by the pool, read philosophy books and went snorkeling in the lagoon. Later, they took Suri for a swim."

Can't wait to hear about all of the details of what is sure to be a fabulous party. I wonder what Katie will wear this time. In the meantime, Katie is cruising around town trying to keep Suri undercover but proudly showing off her huge ring.

Splash

Sumner Redstone may still be running around town badmouthing Tom Cruise, but Tom has moved on with his life and he's not looking back. He and longtime producing partner Paula Wagner are now to run United Artists, the film studio originally formed by Charlie Chaplin. Here's more

Wagner will serve as chief executive of the company, which is owned by Metro-Goldwyn-Mayer Inc. Cruise will appear in UA films, but also be allowed to star in films from rival studios, MGM announced Thursday.

The development is a major comeback for Cruise and Wagner. They were unceremoniously dumped in August from their 14-year producing deal at Paramount Studios after Sumner Redstone, chairman of Paramount parent company Viacom Inc., blamed Cruise's public antics for hurting the box office performance of "Mission:Impossible III."

Cruise/Wagner Productions said then that it had secured financing from two unidentified hedge funds to back future projects.

MGM said Thursday that Cruise and Wagner have taken an ownership interest in UA, but did not specify financial terms.

The pair will have full control of the production slate, which is expected to be four films a year, MGM said.

I can't believe Tom managed to do this deal two weeks before his wedding. This is a huge deal in the image turnaround for Mr. Cruise. There really is no stopping this man.