Tuesday July 10, 2012

NEW YORK -- Tom Cruise and Katie Holmes reached a settlement on Monday, legally sorting out their divorce with the same speed that kicked off their much-scrutinized romance seven years ago.

Just as Hollywood was settling in for what was expected to be a long and nasty separation, lawyers for the couple said the pair settled less than two weeks after Holmes unexpectedly filed for divorce.

"The case has been settled and the agreement has been signed," Holmes attorney Jonathan Wolfe said in a statement. Cruise’s attorney, Bert Fields, also confirmed the settlement in a statement: "Tom is really pleased we got there and so am I."

In a joint statement, Cruise, 50, and Holmes, 33, asked for privacy for their family with 6-year-old daughter Suri.

"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," read the statement from Cruise’s publicist Amanda Lundberg and Holmes representative Nanci Ryder.

The rapid settlement saves the couple from a public battle that was sure to be covered vigorously by the celebrity news media, which had already shifted into hyper-drive.