It was 9:30 pm and Viacom CEO Tom Freston was in a good mood, sipping a beer and playing pool and applying chalk to the tip of his stick when all of a sudden...whack! Someone clobbered him with the blunt end of another pool cue. Freston's eyes rolled into his forehead, his legs gave out and a second later he was on the floor and out cold. The upshot is that the poor guy's out of a job. Freston's former boss, the always assertive Viacom chairman Sumner Redstone, made the call because of "a weak stock price and increasing questions about the company's online strategy," according to a Wall Street Journal report. The 83 year-old Redstone replaced Freston with "personal adviser" Philippe Dauman; he also rehired a former lieutenant, Thomas Dooley, as exec vp and chief administrative officer. The shakeup "bore striking similarities to a similar executive overhaul at Viacom in 1996", the Jounal story says.
Posted by Jeffrey Wells on September 5, 2006 at 10:17 AM
comment #1
marychan
says ...
Sumner Redstone bypassed Tom Freston and Brad Grey to "fire" Tom Cruise....
Now Tom Freston is out....
Is it a sign for a big "change" in Paramount?
Posted by marychan
at September 5, 2006 10:58 AM
comment #2
Dixon Steele
says ...
Am I the only one wondering if Redstone's lost it?
Posted by Dixon Steele
at September 5, 2006 11:16 AM
comment #3
nemo
says ...
Yeah, Redstone probably has lost it, and firing Cruise was probably a bad move from a business point of view. But still, anyone who applies a pool cue to Tom Cruise's noggin earns two snaps up.
Posted by nemo
at September 5, 2006 3:07 PM
comment #4
robnyc
says ...
"The poor guy is out of a job"? Please. With a $50 million payout coming to him, my heart hardly bleeds for "poor" Tom Freston.
Posted by robnyc
at September 6, 2006 4:57 AM