UPDATE: Katie Holmes and Tom Cruise’s Divorce Settled

Tom Cruise is gonna play ball after all — his and Katie Holmes’ divorce will be settled out of court and he’s not contesting custody. TMZ says:

The lawyers are negotiating child custody, visitation, child support and a property settlement.

There are NO immediate plans for either side to go to court. There will be no court hearing in the foreseeable future, unless the negotiations fall apart.

The whole settlement could be ratified in New York if all goes well. In other words, there may not be a move by Tom’s camp to transfer the case to California, where judges are more likely to award joint custody.

Tom has bow out gracefully and admit defeat, because Katie’s clearly got the upper hand. You gotta know when to hold ‘em, know when to fold ‘em, know when to walk away, and know when to run. That’s why I’m a disciple of the church of The Gambler.

UPDATE: TMZ now confirms that they have officially settled.

Arriving at her attorney’s office in New York yesterday:

2 Reader Comments

  1. anony

    Co$ was getting a beating they couldn’t control, and they wanted it to go away quick, for sure, but the real reason was that she was willing to tell ALL his secrets if she didn’t get custody: he’s bi (Beckham, Rob Thomas, etc.) and he’s not Suri’s father. (Suri looks nothing like him, if you notice.)
    And the rumor for years was that he was sterile and couldn’t have children, but in the Co$ you’re not supposed to acknowledge any perceived weakness.

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