Complex sentence: Best Actor winner Michael Douglas became the second person to win Oscars for both acting and producing; he previously won a Best Picture award as co-producer of "One Flew Over the Cuckoo's Nest".
Split into simpler sentences: Best Actor winner Michael Douglas became the second person to win Oscars for both acting and producing. He previously won a Best Picture award as co-producer of "One Flew Over the Cuckoo's Nest".