Word: freston
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...ousting Tom Freston as CEO of Viacom and replacing him with a hand-picked confidante on Tuesday, Chairman Sumner Redstone has sent a message to Wall Street and Hollywood, for the second time in less than a month, that he's running the show at the entertainment conglomerate he controls. But that news didn't seem to hearten many folks in either quarter about Viacom's outlook...
...After words of pro forma praise for Freston, who ascended to CEO after building the MTV unit into a lucrative global brand, Redstone made it clear that he and the company's other directors felt that the man who at one time was regarded as his heir apparent hadn't been bold enough as leader of the parent. "We love Tom, but the board felt that not enough was being done," Redstone said during a Tuesday morning conference call with investment analysts and journalists. "We were not moving as entrepreneurially and aggressively as we should. Our communication with Wall Street...
...Freston, president and CEO of Viacom, and musician Wynton Marsalis...
...Paramount's other secret ingredient: cross-marketing. The networks feed ideas to the studio, which produces the movies, which are promoted on the networks. That puts the energy in synergy. "This is not to say that under my management Paramount is going to become the MTV Films studio," says Freston. "But they will play a big cornerstone in what Paramount is going...
...Freston can bring the MTV notion of entertainment with edges and quirks, sass and style, to a movie system that is short on artistic and marketing innovation, then risky business might turn out to be smart business. It could also produce some good films. If that happens, then even a skeptic may want to stand up and applaud. --Reported by Desa Philadelphia/Los Angeles