Tom Cruise may have been unceremoniously removed from Paramount two years ago after the flop of “Mission Impossible 3” but Viacom mogul Sumner Redstone says he is not opposed to having Cruise in the next installment of the franchise.

Sumner Redstone, executive chairman and controlling shareholder of Viacom Inc. and CBS Corp., while at a conference in Seoul, South Korea, made the very interesting statement of not objecting to Tom Cruise’s starring in the upcoming “Mission Impossible 4.”

His embracing of a collaboration with Cruise comes as a surprise considering the unfortunate turn their 14-year professional relationship took in 2006, when the entertainment mogul and the Hollywood star parted ways.

Cruise and longtime producing partner Paula Wagner packed up their stuff and moved over to the revived United Artists, where they are still striving to make a definitive mark.

Despite the bad blood of the past, Cruise may now be talks to star in a fourth “Mission: Impossible” film for Viacom-owned Paramount, according to media reports.

The 45-year-old movie star, who has been struggling over the past couple of years with an unflattering public image, and Redstone were seen dining in Beverly Hills in March, fuelling speculation that they were rekindling their professional collaboration.

“I consider Tom Cruise a great actor and a good friend,” Redstone said Tuesday, as quoted by the Associated Press. “And if Paramount decides, and they will make the decision, to move ahead with him, I will not object.”

What has changed for Redstone to reconsider working with Cruise? The “recent conduct” he cited in November 2006 as a reason for cutting the relationship with Cruise referred to the latter’s well known affiliation to Scientology and a series of public appearances that sparked controversy at the time.

Among these were his mad jumping on Oprah Winfrey’s couch during her show or criticizing actress Brooke Shields for taking antidepressants for her post-partum depression or getting into a heated argument with “Today” show host Matt Lauer on the same subject of medication and psychiatry.

It’s not like controversy has avoided Cruise over the past two years. It was only four months ago that a certain video was mysteriously leaked on the Internet, leading to public mocking of Cruise. In the 9-minute video, an enthusiastic Cruise extols the brilliance of Scientology, as he asserts that the cult’s leader David Miscavige is the Scientology equivalent of the Pope and refers to Scientologists as people especially endowed to help others.

Cruise’s box office performance has not been stellar either, for Paramount to rely on his crowd-drawing ability.

“Lions for Lambs,” an ambitious first project he undertook for the UA, did not have the successful fate he and Wagner had hoped for. Despite direction from Robert Redford, who also starred alongside Meryl Streep and Cruise, the political drama only raised $15 million domestically and failed to impress film critics.

Under the current arrangement, Cruise produces and stars in films for United Artists, while Wagner serves as chief executive.

Cruise’s next project is “Valkyrie,” a World War II thriller based on a true story: the July 20 Plot of German army officers to assassinate Adolf Hitler. Cruise portrays the eye patch-wearing leader of the plot, Colonel Claus von Stauffenberg. The cast includes Kenneth Branagh, Christian Berkel, Bill Nighy and Tom Wilkinson.

The film’s release has been postponed to a Feb. 13, 2009 release, in order to benefit from an unexpectedly cleared Presidents Day weekend.

It remains to be seen whether Cruise will portray smooth secret agent Ethan Hunt for a fourth time. Redstone would only say Tuesday that he did not know if Cruise would be chosen for the film. “That’s up to Brad Gray, who runs Paramount,” Redstone said. “He will make the decision.”