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| Tom Cruise, Katie Holmes Reach Settlement |
Holmes's attorney Jonathan Wolfe has told People magazine:
"The case has been settled and the agreement has been signed. We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life.
He added, "We thank Tom's counsel for their professionalism and diligence that helped bring about this speedy resolution."
In a separate statement, Curise, 50 and Holmes, 33, expressed respect for each other's faith and commitment to their 6-year-old daughter Suri Cruise in a statement released to the press through their respective reps.
"We are committed to working together as parents to accomplishing what is in our daughter Suri's best interests," reads the statement.
"We want to keep matters affecting our family private and express our respect for each other's commitment to each of our respective beliefs and support each other's roles as parents."
Details of the agreement between the estranged couple are not known but a source close to the both Cruise and Holmes told People magazine that the couple is likely to settle for a custody arrangement under which Suri will live with Holmes in New York and Cruise will enjoy generous visitation rights.
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