Aug 27, 2010 14:48 GMT  ·  By

Production on the fourth installment of the “Mission: Impossible” franchise is moving ahead, with Paramount Pictures setting eyes on Oscar nominee Jeremy Renner as Tom Cruise’s young aide.

It’s been over three years that the third film in the series came out and, for a very long time, nothing of a follow-up was heard, which made many fans lose all hope they’d ever see one.

In recent weeks though, Paramount has been a busy little bee, looking for young actors who can do action movies, but who can also act and hold a candle to Tom Cruise as regards onscreen charisma.

Word in the industry had it at first the studio wanted to do extensive screen testing to find the ideal partner for Cruise onscreen, but it seems it changed its mind at the last moment and went for a sure win in Renner.

Deadline has learned all the specifics of the deal but, right now, confirmation from producers and the movie studio is still pending.

“So Paramount Pictures won’t be screen-testing any young actors to star opposite Tom Cruise after all. I’ve learned that the studio has just chosen Jeremy Renner to infuse new blood in its Mission: Impossible franchise,” Deadline writes.

Renner is a great choice, since he’s been getting wonderful reviews for his work in “The Hurt Locker,” which was last year’s Best Film at the Academy Awards.

Aside from getting a nod for Best Actor as well, Renner is also young, looks very good on camera and has already proved he can do action movies, which makes of him an ideal partner for Tom Cruise.

Moreover, says Deadline, Renner is on par with Cruise in many respects, which mean he could carry the “M:I” franchise past the fourth installment, should the latter star decide to bow out of it.

“The studio boss was interested in actors like Tom Hardy and Chris Pine, but they were booked. So the studio planned to test a group of young actors later this week, and Deadline spent all Tuesday going back and forth with the studio over candidates Kevin Zegers, Christopher Egan and Anthony Mackie (the latter of whom starred with Renner in The Hurt Locker),” Deadline writes.

Eventually, Paramount settled on Renner and canceled all screen tests. Further details on the production are not available at this moment but make sure you keep an eye on this space for when they go public.