Notes Deadline, "It is the second major role for Renner coming out of his turn as the reckless explosives specialist in the Oscar-winning The Hurt Locker. Renner also will star in Marvel Studios' The Avengers, playing the role of Hawkeye in that star-studded superhero ensemble that will be directed by Joss Whedon. Paramount is expected to release that film under its distribution deal with Marvel Studios, made before the company was acquired by Disney. Renner will next be seen in the Ben Affleck-directed The Town, the GK Films-produced drama that Warner Bros opens September 17."
Concerned about Cruise's current box office draw, the studio wanted to make sure that they found an actor they felt could continue in the franchise should Cruise's Ethan Hunt be retired.
Other names were bandied about, but the appeal of Renner was the feeling that he conveyed a "Daniel Craig-like quality" in his performances.
Muses Deadline, "It is interesting that rather than trying to create a star by going with an unknown, Paramount instead has placed its bet on a 39-year old actor who has been around for years. He only really reached the A-list with The Hurt Locker even though he has been memorable in earlier work. He has the grit, maturity and chops to take that next step."