Deadline is reporting that McQuarrie is the choice of Paramount Studios’s choice to direct their planned Mission: Impossible 5.
Cruise and McQuarrie have a decent history together these past few years. McQuarrie has already directed Cruise in the upcoming thriller Jack Reacher, which McQuarrie adapted from Lee Child’s novel One Shot. Additionally, McQuarrie has written the Cruise 2010 vehicle Valkyrie and done script doctoring work on the last Mission: Impossible film, the upcoming Cruise film All You Need Is Kill and the now-in-limbo Top Gun 2.
A final offer will probably not be made to until after the studio hires a writer for the project, according to Deadline, though I would not be surprised if at some point McQuarrie takes a pass on the screenplay himself.