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Tom Cruise was on the popular SMAP SMAP program here in Japan (HERE), and when asked about the Mission Impossible franchise he revealed that he has started work on the fourth installment...he's working on the story right now.
He also commented that during his visit here he'd been thinking about how to stage a big action sequence in downtown Tokyo..dunno if he was just being polite, but sounds like a cool setting for the series, what?

J.J. Abrams tells TV Guide that he will be producing the fourth "Mission: Impossible" film.

"I am incredibly honored that Tom has invited me back as a producer on 'Mission: Impossible 4,'" said Abrams, who directed 2006's Mission: Impossible III, but hasn't yet committed to directing the fourth.

"Tom and I have come up with a really cool idea we are pursuing," he added.

The Punisher hat geschrieben:Ich hoffe auch dasein anderer als JJ Regie führt. Tarantino wäre cool 8-)

Paramount Pictures and producers Tom Cruise and J.J. Abrams have officially lit the fuse on "Mission: Impossible IV," setting Josh Applebaum and Andre Nemec to write the screenplay. While those scribes aren’t big feature names yet, they join a roster of writers who transitioned from Abrams TV series creations to pen the features he directs and produces through his Bad Robot banner.
Applebaum and Nemec spent four seasons with Abrams as co-exec producers of "Alias," and they will script "M:I 4" based on a story Abrams wrote with them.
While the only other commitments so far are for Cruise and Abrams to produce the film together, sources said that Cruise’s character, Ethan Hunt, will certainly be involved in an onscreen capacity. Pic is aimed for a 2011 release.
Applebaum and Nemec are the creators of the new ABC series "Happy Town" and previously created "October Road" and the U.S. version of "Life on Mars" for ABC.
"I’ve been looking forward to working with Josh and Andre again for years," Abrams said. "Their sense of balance between character and action is wonderful, which I know is hugely important to Tom as well. We’re off to an exciting start, so, as usual, fingers crossed."

Any momentum on Mission: Impossible IV?
Abrams: Yeah, we have a really cool story. It's being written right now by Andre Nemec and Josh Applebaum.
What's your ETA on when you'll see the draft?
Abrams: We're hoping to get it soon, like by the end of the year.
Could it work out for you to direct it?
Abrams: I'm open to anything.

Russian superstar Vladimir Mashkov has been cast alongside Tom Cruise in Paramount's fourth "Mission: Impossible" movie, the studio has confirmed to TheWrap.
Mashkov will play a Russian agent in Brad Bird's big-budget sequel, which also stars franchise newcomers Jeremy Renner and Paula Patton, as well as returning cast members Ving Rhames and Simon Pegg.