Tom Cruise and Katie Holmes Reach Divorce Settlement

Two weeks after announcing their separation, Tom Cruise and Katie Holmes have reached a divorce settlement.

Holmes’s attorneys issued a statement that read as follows: “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. We thank Tom’s counsel for their professionalism and diligence that helped bring about this speedy resolution.”

Representatives for both parties issued the following joint statement to People Magazine regarding the settlement: “We are committed to working together as parents to accomplish what is in our daughter Suri’s best interests. 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.”

Although the specific details of the settlement have not been disclosed, sources indicate that Cruise and Holmes have agreed on a framework for their 6-year-old daughter Suri to live with Holmes while Cruise is given ample visitation times.

As art once again imitates life, in the upcoming movie, “Molly,” Holmes will play the role of a single mom with a young daughter.

Holmes is co-writer and co-producer of the film.