Paramount Pictures settles insurance suit over ‘Mission: Impossible 7’ production delays due to Covid-19

Paramount Pictures, the film studio behind properties like ‘Mission: Impossible’ and ‘Transformers’ has settled its lawsuit filed against its insurance company Chubb Limited, reported Variety. In August last year, Paramount had sued Chubb Limited over losses arising due to delays in the production of Tom Cruise-starrer ‘Mission: Impossible – Dead Reckoning Part One’, the seventh film in the venerable franchise, owing to the Covid-19 pandemic. The studio had stated that it was owed a lot more than the $1 million amount the insurer was offering.

A joint statement from both parties read, “A formal written settlement agreement has been prepared and is being commented on and finalized. The parties anticipate executing a final written settlement agreement by August 5, 2022.”

The Covid-19 pandemic went global early 2020 and has adversely affected film and TV productions around the world. Several big screen projects were delayed or brought forward as theatres globally were shuttered. Even now, when the impact has lessened, the business is yet to fully recover. 

‘Mission: Impossible – Dead Reckoning Part One’, directed by Christopher McQuarrie, marks the return of Cruise once again in the role of Ethan Hunt. The spy thriller franchise began with 1996’s ‘Mission: Impossible’, which was a continuation of the 1960s TV series of the same name.

Also Read: ‘Crimes of the Future’ review: Visually rich & thematically ambitious, David Cronenberg film is a masterpiece

As the name suggests it is the first in story arc. The arc will end with the eighth and final ‘Mission: Impossible’ installment titled Mission: Impossible – Dead Reckoning Part Two. 

Mission: Impossible – Dead Reckoning Part One will release on July 14, 2023.

The last film ‘Mission: Impossible – Fallout’ released in 2018 and became the biggest commercial hit in the franchise. It also received the franchise-best reviews with 97 per cent at Rotten Tomatoes. The critical consensus reads, “Fast, sleek, and fun, Mission: Impossible – Fallout lives up to the “impossible” part of its name by setting yet another high mark for insane set pieces in a franchise full of them.”