David Ellison Poised to Become a New Mogul in a Diminished Hollywood
In 1994, when Sumner M. Redstone bought Paramount Pictures for about $10 billion, the equivalent of about $22 billion today, he did more than just take over a company. He ascended a cultural throne. Studios like Paramount — founded in the 1910s, operating soundstage complexes and controlling vast film libraries — were valuable businesses on…