EXCLUSIVE: Ethan Hunt has accepted another mission. Paramount Pictures and Skydance Productions have set Tom Cruise in a deal to star in and produce a fifth installment in the Mission: Impossible franchise. Both Paramount and Skydance have confirmed this, but they are not saying who’s writing and directing, or when they are targeting release. I’ve heard all along that the director will be Christopher McQuarrie, Cruise’s frequent collaborator who most recently wrote and directed Jack Reacher, the adaptation of the Lee Child novels that starred Cruise. The writer/director will be finalized shortly, and that person will develop the next installment with Cruise and JJ Abrams‘ Bad Robot. Abrams directed the third film in the series and he and Cruise reignited the franchise by hatching the Brad Bird-directed Mission: Impossible–Ghost Protocol, a film that added Jeremy Renner to the mix and saw Cruise sky-walking across the exterior glass 124 floors up on a skyscraper in Dubai. That film had a $145 million budget and a worldwide gross of nearly $700 million, the most a Cruise film has ever done.