J.J. Abrams $60 million deals

'Lost' creator J.J. Abrams has signed two new production deals worth an estimated $60 million, it has been reported.Abrams - who directed Tom Cruise's latest movie 'Mission: Impossible III' - has signed new TV and film production deals with Warner Bros. and Paramount.Peter Roth, the President of Warner Bros. Television, told the Los Angeles Times: "An opportunity presented itself, and we went for it."J.J. is such a unique and extraordinary talent and someone who I have admired for years."Hollywood's latest golden boy agreed the new contracts on Friday (14.07.06) after several studios had spent months trying to woo him.The Emmy award-winning director had based his Bad Robot TV production company at the Walt Disney-owned Touchstone Television studio for the past seven years.Abram's contract was due to be renewed this year but Touchstone was reportedly unwilling to increase the director's profits from shows.

The new six-year deal with Warner Bros. and Paramount elevates him to the same status as other Hollywood directors such as Jerry Bruckheimer.

It is unknown if Abrams will begin developing new projects or continue working on his existing TV shows 'Lost', 'What About Brian?' and new series 'Six Degrees'.

Abrams is reportedly keen to make the 11th instalment of Paramount's 'Star Trek' his next movie project.