Sept 16 (Reuters) - Media executive Shari Redstone has

been named chair of Israel-based entertainment studio Sipur,

which is behind the award-winning documentary "We Will Dance

Again" and Netflix's ( NFLX ) "Bad Boy".

The company said on Tuesday that the former Paramount

chair will work with Sipur's co-founders, CEO Emilio

Schenker and Gideon Tadmor.

Redstone has invested in the production studio alongside

Tadmor and Israeli institutional investors Bank HaPoalim and

Clal Insurance, Sipur added.

"Not only does Sipur produce high-quality commercial

content, the team also brings to life stories that drive

conversation, impact and change," Redstone said in a statement.

Sipur's business model includes producing high-end content

on modest budgets in partnership with international companies, a

strategy that has allowed the studio to grow rapidly since its

inception in 2019.

Early this year, Redstone closed the sale of Paramount

Global to Skydance Media, marking the end of the media mogul's

control over Paramount-parent National Amusements.

Redstone was long hesitant to part with the studio her late

father Sumner Redstone acquired in 1994.

Sipur said it has made strategic investments in multiple

projects premiering over the past two weeks at the Venice and

Toronto international film festivals.