Christopher McQuarrie has directed the film from a script by Drew Pearce and Will Staples. Cruise has produced along with JJ Abrams, and David Ellison of Skydance Productions, reported Variety.
The move puts 'Mission: Impossible 5' on the same weekend when 'Guardians of the Galaxy' opened last year, ending up as the highest-grossing film of the summer. It also puts 'Mission' three months ahead of the November 6 launch of 'Spectre', the next James Bond movie.
Filming began last August in Vienna.
'Mission: Impossible - Ghost Protocol', directed by Brad Bird, opened in December, 2011, and grossed nearly USD 700 million worldwide.
Paramount is also moving its animated 'Monster Trucks' action project back from May 29 into the Christmas slot.
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