Tom Cruise & Katie Holmes Settle Divorce: So, Who Gets What?

Looks like Katie Holmes and Tom Cruise will avoid a public trial for their divorce. TMZ reports that the pair have reached an out-of-court settlement Monday (July 9).

"This case has been settled and the agreement has been signed," Holmes' attorney Jonathan Wolfe tells TMZ. "We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life."

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The actress spent several hours at her attorneys' New York offices Friday, and People magazine and other outlets reported that her lawyers and those for Cruise had been talking about a settlement for days.

Read more now on Zap2It: Tom Cruise & Katie Holmes Settle Divorce: So, Who Gets What?

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