LATEST: Members of Tom Cruise's camp have hit back at Paramount Pictures and Viacom chairman SUMNER REDSTONE for ending its business relationship with the star, calling their actions "disgusting." On Wednesday (23AUG06), the studio announced it was severing ties with Cruise and producing partner Paula Wagner, citing Cruise's "unacceptable" offscreen behaviour as the reason behind their decision. Creative Artist's Agency president RICHARD LOVETT, the talent agency that represents Cruise, slams the studio telling the New York Times, "Paramount has no credibility right now. "It is not clear who is running the studio and who is making the decisions." Cruise's lawyer, BERT FIELDS, tells the newspaper Redstone's comments about the star were "disgusting" and suggested that Redstone, who is 83, has "lost it completely, or he's been given breathtakingly bad advice." Fields adds, "That a mogul like Sumner Redstone could make a statement so vicious, so pompous, so petulant as that he didn't want to make a deal with Tom Cruise because of his personal conduct - it tells you more about Sumner Redstone and Viacom than about Tom Cruise." Paramount chairman Brad Grey and Viacom CEO THOMAS E FRESTON claimed to have been caught off guard by the news the studio was dumping the star. Wagner adds, "If you didn't know anything about this, how effective are you at running a studio?"