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Revolving Door Newsletter: 09.05.06
Redstone Sends Viacom's Freston on a 'Cruise'September 5, 2006
Welcome back. Summer is over, and so is Tom Freston's golden-boy, 20-year career at Viacom, reports FishbowlNY. Freston unexpectedly "resigned" this morning at the behest of 83-year-old chairman Sumner Redstone, whose late-summer firing of Tom Cruise from Paramount was apparently just a warm-up. Ten years after he axed Frank Biondi as Viacom's CEO, history repeats itself, and Redstone consigliere Phillippe Dauman is effectively back in charge, this time (presumably) until the dynastic succession happens and vice chairman Shari Redstone ascends to the throne. When will this occur? In "20 or 30 years," according to her father ...