Tom Cruise’s $50 Million Defamation Lawsuit Dismissed

The $50 million lawsuit filed by Tom Cruise last year against Bauer Media has been dismissed, CB! can confirm.

In court docs filed Friday, a resolution has been agreed upon, but no details are given. However, each party will pay their own attorney’s fees and costs.

Cruise filed the headline-making lawsuit in October 2012 after a Life & Style magazine cover story claimed he “abandoned” his 6-year-old daughter Suri after divorcing Katie Holmes in June 2012.

When depositions from the case surfaced last month, the superstar made headlines yet again when details of his private life were made public as he went on the defensive about the “disgusting” story and his controversial religion, Scientology.

“I didn’t abandon her emotionally, physically or otherwise,” Cruise said in court docs, adding, “There is no reason to protect my daughter from my religion.”

The court paperwork also exposed Holmes’ design parter Jeanne Yang as a possible press leak and, yes, it’s the same deposition in which Cruise parallels his job as an actor to that of an Olympian or a soldier fighting overseas.

Clearly, the press had a field day with the transcripts, but abandoning litigation comes as a surprise given that Cruise’s attorney said the actor planned on following through with it all the way to trial: “Tom doesn’t go around suing people,” Bert Fields told The Hollywood Reporter. “He’s not a litigious guy. But when these sleaze peddlers try to make money with disgusting lies about his relationship with his child, you bet he’s going to sue.

“Tom is going to want to push this one all the way.”