Paramount Pictures buys independent film studio DreamWorks SKG Inc. in a deal worth $1.6 billion. ... Spielberg said in 1994 that he wanted to create a "playground" for filmmakers.

Paramount Pictures celebrated its 100th anniversary Friday. ... Redstone in 1994 succeeded in his mission to own Paramount. And on Friday, ...

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.