It looks like the Teenage Mutant Ninja Turtles have a new place to call home: MTV Networks and more specifically, Nickelodeon. According to Reuters, the network, the world’s number one for kids, acquired the rights today to the globally recognized, and phenomenally successful, Ninja Turtles property for roughly $60 Million.

The network plans to develop a new CG-animated television series based on the shelled superheroes, which will potentially debut sometime in 2012. In addition, the network is planning the release of brand new feature films starring the Turtles in partnership with Paramount Pictures and will also continue to work Playmates Toys on merchandising of the Turtles.

“Teenage Mutant Ninja Turtles shares a comedic sensibility with the Nickelodeon DNA, with added layers of action and fantasy that have kept this property an evergreen favorite with multiple generations of audiences,” said Cyma Zarghami, President, Nickelodeon/MTVN Kids and Family Group. “We are extremely happy to have the opportunity to be able to focus on this property and creatively re-introduce it to a new generation of kids.”

“Teenage Mutant Ninja Turtles is a property that maintains a very passionate global fan base, is rich with opportunity for a tentpole movie, and is exactly the right property for us to work together with Nickelodeon,” said Adam Goodman, President, Paramount Pictures.

Actually, TMNT and Nick seem like a great partnership. TMNT has always seemed more of a kids thing to me and for it to be on Nickelodeon and then have a brand new movie from Paramount should continue to expand the appeal of these characters for a long time to come.

According to an article in Variety, all systems seem to be go for Tom Cruise and J.J. Abrams to team up once again for another round of Mission Impossible. What was once seemingly never going to happen is, at least according to the article, being put together right now over at Paramount.

According to the article, Tom Cruise and J.J. Abrams have agreed to co-produce the sequel and are aiming for a release sometime in 2011. This project should come as a surprise to anyone familiar with Cruise’s treatment by Paramount and the abrupt termination of his 14 year deal with the studio in August of 2006. The rift created by the summary nature of Cruise’s terminated deal led to the actor becoming the head of United Artists and basically thumbing his nose at Viacom’s CEO Sumner Redstone.

Now, it seems all is forgiven and Cruise is prepared, at least for this project, to return to the studio where he’s spent so much time and made so much money. There’s no word yet on if Cruise will star in the film, if Abrams will direct or the potential story. However, it would probably make sense that Cruise at least would take on the Ethan Hunt role one more time while he still can.

No matter what, production on Mission Impossible IV will have to take a back seat to Cruise and Abrams other commitments. Abrams is, of course, currently responsible for the Star Trek franchise and its next film and Cruise is busy working on a movie for director James Mangold. So, it seems we will get another Mission Impossible film but just not anytime soon.

And honestly, I would rather Abrams spend his time working on another Star Trek movie anyway. I loved it and can’t wait for another. As for Tom Cruise, he can do whatever he wants — as long as he doesn’t interfere with the next Star Trek movie. Other than that, its all good.