Business: Balaban to Paramount

After months of sober head-scratching, the directors of Paramount Pictures last week decided on a successor to President John Otterson, who got his walking papers at the last stockholders meeting (TIME, June 29). Their choice was Barney Bala ban, one of the new directors elected last month and co-founder of Chicago's chain of Balaban & Katz theatres.

Eldest of the seven sons of a Russian immigrant who ran a grocery store on Chicago's West Side, Barney Balaban got into cinema in the days of the nickelodeon. His only sister was the wife of Sam Katz....

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