The action movie is up for Best Picture, Best Adapted Screenplay, Best Sound, Best Film Editing, Best Visual Effects and Best Original Song by Lady Gaga, who will be performing during the live broadcast.
Cruise's absence was mainly due to him already being back at work overseas on the set of Mission: Impossible -- Dead Reckoning Part II in England.
If the movie nabs the honor of Best Picture, producer Jerry Bruckheimer will be on hand to accept the award on behalf of the cast and production team.
No matter what happens, the Jerry McGuire star could not be more proud of the franchise's monumental success and his role as producer on the project.
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"Filmmaking for Tom these days is all about creating the whole package and making it work and [making] money, as opposed to having that one scene in the film where he cries or yells and generates the perfect 'Oscars clip,'" an insider spilled of Cruise's current mindset.
"Tom has grown out of caring about that stuff, and in the process has grown into an absolutely killer businessman and producer," the source continued, adding the 60-year-old "is finally feeling the love again" after getting out of a dry phase in his career. "And that’s the real thing he’s intent on celebrating this awards season."
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"Tom may have moved out of Hollywood, but he’s back in the mix in the industry he adores," an insider spilled about Cruise's new lease on his career prior to the nominations being revealed. "He’s telling people that this is his year. It doesn’t hurt that he’s now heading to the Oscars [on March 12] with a nod for such a huge blockbuster. Put it this way: Tom’s back on top."
ET confirmed Cruise's absence from the 2023 Oscars.