Settlement reached in the Tom Cruise and Katie Holmes divorce

Hours after Tom Cruise and Katie Holmes released a joint statement insisting they are committed to working together to do what’s best for their daughter, Suri; lawyers for both actors released two additional statements saying that both parties have reached and signed a settlement regarding their daughter.

In a statement released earlier today both Tom and Katie said: “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.”

Within hours of that statement, Katie’s attorney, Jonathan Wolfe told TMZ that his client and her estranged husband reached a settlement and they have already signed the agreement.

“This case has been settled and the agreement has been signed,” TMZ quoted Jonathan as saying.  “We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life.”

Shortly after making that statement to the online tabloid, Tom’s lawyer, Bert Fields, told TMZ “The Tom Cruise-Katie Holmes case has been settled with a signed agreement.  Tom is really pleased we got there, and so am I.”

Details about the settlement have not been released, but Katie had been seeking sole custody of the couple’s 6-year-old daughter and Tom was insisting that without custody of his daughter he was NOT going to reach any agreements with his estranged wife.

I guess only time will tell what’s in the settlement!