After taking a break to raise her babies and then to act on Broadway, Julia Roberts continues to rake up new movie projects. Variety reports that Roberts has agreed to star and co-produce "The Friday Night Knitting Club" for Universal Pictures. Based on an upcoming novel by Kate Jacobs, the story focuses on a mom faced with balancing the demands of her "spunky" teenage daughter and running a Manhattan knitting store (perhaps the only one on the island). Her regular customers meet once a week to share their latest projects and kvetch, but when a tragedy occurs, they realize they are more than just casual acquaintances. And yes, it does sound very thematic to Roberts' early flick "Steel Magnolias" (I'm pining for a Sally Field breakdown moment, how about you?). No writer or director is on board yet to adapt the book, but Roberts will put it in the queue with her other in-the-works projects such as "Eat, Pray, Love" and "Charlie Wilson's War" opposite Tom Hanks.

Quickie Commentary: The announcement that Tom Cruise and his producing partner, Paula Wagner, would take over MGM subsidiary United Artists was one of the biggest surprises of the year and was a big slap in the face to Viacom Chairman Sumner Redstone, who had continued to rag on his former Paramount superstar even after he was let go a few months ago. With a minimum of four pictures a year, Cruise and Wagner will finally get to make the movies they want without studio interference, but is that really a good thing? The duo has always tried to make good movies, but their previous hits ("The Others," the "Mission: Impossible" franchise) were pretty much balanced out by some major bombs ("Suspect Zero," "Ask the Dust"). But, considering that UA has basically been nonexistent during the past decade, it has to be a plus for MGM. In 18 months or so, they'll know for sure.

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