Tom Cruise has dropped his $50 million lawsuit against Bauer Media, according to The Hollywood Reporter.

Cruise sued the company in October 2012 after one of its magazines, Life & Style, ran a story claiming the 51-year-old actor had "abandoned" his daughter Suri. The article came out after Cruise and Katie Holmes ended their five-year marriage in June 2012, and at the time, his attorney Bert Fields said in a statement, "Tom doesn't go around suing people. He's not a litigious guy. But when these sleaze peddlers try to make money with disgusting lies about his relationship with his child, you bet he's going to sue."

In his legal paperwork, Cruise said, "I have in no way cut Suri out of my life -- whether physically, emotionally, financially, or otherwise," and during a deposition in September, the actor was forced to answer some very personal questions about his divorce and Scientology.

"You have to work at it. I've gotten very good at it. I tell wonderful stories," the Oblivion star said of making time for his daughter when he's busy filming movies. "I also find that, you know, Suri is a very happy child, and confident, and has a good sense of herself."

When lawyers asked Cruise if Holmes divorced him to protect Suri from Scientology, he got rather testy and replied, "I find that question offensive. There is no need to protect my daughter from my religion." When asked again if this was one of the reasons behind their high-profile split, he said, "That was one of the assertions, yes There are many other aspects to the divorce."