Tom Cruise and Katie Holmes reach divorce settlement

By Daniel S Levine,

After days of speculation about a potential divorce settlement, a joint statement from representatives for Katie Holmes and Tom Cruise has confirmed that they are working together to decide what is best for Suri, their 6-year-old daughter. Holmes' lawyer is also saying that a settlement has already been reached.

“We are committed to working together as parents to accomplish what is in our daughter Suri's best interests,” the couple said in the statement to the media, released Monday by reps Nanci Ryder and Amanda Lundberg.

The statement continues, “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.”

This statement follows reports on Saturday that the former couple was looking to reach a settlement on custody of Suri and property without heading to court.

In a statement to TMZ, Jonathan Wolfe, Holmes' lawyer, says that the settlement has already been reached. "This 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 said.

In a further statement to People, Wolfe thanked his partners and thanked Cruise's lawyers for "for their professionalism and diligence that helped bring about this speedy resolution."

Holmes filed for divorce on June 28 in New York, where she recently moved. She has been photographed in public in NYC several times over the past few days, while Cruise, who is reportedly in California, has stayed out of the public eye.

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