As originally rumored a few days ago, Hollywood Reporter is confirming that JJ Abrams and Tom Cruise are teaming up to produce a fourth Mission Impossible, which, if Hollywood sequel-naming trends bear out, will probably be called The Mission Impossible. 
Unfortunately, it looks like Abrams won’t be directing (as he did on Star Trek, which was awesome) and it’s unclear whether Cruise will star (though that part isn’t as unfortunate).
Abrams directed Cruise in the third installment of the TV-derived franchise, which grossed $395 million worldwide in summer 2006. Relatively speaking, “MI:3″ was a box office disappointment, since the second film grossed $545 million worldwide and the original raked in $452 million.
Though Abrams is not on board to direct the new “Impossible,” he and Cruise could reconceive it in a way that is closer to the ensemble approach of the TV series. Or they could reconfigure Cruise as Ethan Hunt in a less front-and-center role, as some kind of mentor to the new M:I crew. Then again, no one can rule out Cruise as the guy who will carry the franchise for the duration. [THR]
Or maybe Cruise will do battle with a horde of space lesbians, accompanied only by his masturbating iguana, Reacharound. Gosh, journalism is fun.
J.J. Abrams wrote and directed Mission Impossible III, which was supposed to be a big deal at the time, but it only grossed a disappointing $134 mil domestically on a $150 mil budget (though it eventually made almost $400 mil worldwide). I always assumed that was because by the third film (after a second one directed by John Woo featuring a motorcycle joust fight - God that movie sucked), no one cared about the Mission Impossible franchise anymore. 
Nonetheless, word on the street is that Abrams is back as producer for a fourth movie. From TV Guide (via SpoilerTV):
“I am incredibly honored that Tom (Cruise) has invited me back as a producer on Mission Impossible 4. says Abrams. “Tom and I have come up with a really cool idea we are pursuing.”
That idea? Tom Cruise must travel back in time to find the source of all the lens flares. (Tom’s thinking alien spirits).
Related Asylum Poll: How can JJ Abrams make MI 4 watchable? Mmm, you smell that? I stepped in synergy.
