Tom Cruise to pay Katie Holmes $10 million in child support for Suri, report says
Tom Cruise did not pay Katie Holmes a lump sum, reported to be $50 million, in their divorce settlement, according to TMZ.com.
But the film star will be paying his ex-wife a substantial amount of child support. Cruise will making regular payments for 12 years, the website said, adding that he will end up paying more than $10 million for child support for 6-year-old daughter Suri, by the time she turns 18.
Holmes filed for divorce from Cruise on June 28. The couple reached a divorce settlement earlier this week, although no details were publicly disclosed.
The deal avoids a long court battle that could have become a public relations nightmare not only for the 50-year-old "Top Gun" veteran, who has several big-budget movies upcoming, but also for Scientology.
Holmes and Cruise married in 2006. It was his third marriage and her first. Cruise's net worth far outstrips that of Holmes, who is 16 years his junior and best known for her role on the TV show "Dawson's Creek."
-The Associated Press contributed to this report