Tom Freston

Tom Freston
Tom Freston at the 2011 Time 100 gala.
Born	(1945-11-22) November 22, 1945 New York City, New York, United States
Alma mater	Saint Michael's College (B.A.) New York University (MBA)
Occupation	Business Executive and Board Chairman of the ONE Campaign
Years active	1979-present
Known for	Viacom and Founder MTV
Net worth	US$
Spouse(s)	Margaret Ellen Badali (m. 1980; divorced) Kathy Freston (m. 1998-2012; divorced)
Children	Andrew (b. 1985) and Gilbert (b. 1990)

Thomas E. Freston (born November 22, 1945) is an American entertainment industry executive.

Early life and education

He grew up In Rowayton, CT. He received a Bachelor of Arts from Saint Michael's College and an MBA from New York University.^[1] Freston began his career advertising at Benton & Bowles (which later merged with D'Arcy). In 1972, after a year of traveling, he moved to South Asia to start a textile and clothing business, Hindu Kush, and worked and lived in New Delhi, India and Kabul, Afghanistan.^[2]

Career

Returning to the USA in 1979, he joined the Warner-Amex Satellite Entertainment Company (WASEC), a pioneer in the new field of cable television programming. He was one of the founding members of the team that created MTV: Music Television.^[3] As head of marketing, he worked on the "I Want My MTV" ad campaign that helped make the new network a cultural phenomenon. In 1987 he became the President and CEO of MTV Networks, a job he held for 17 years.^[4] MTV Networks launched and operated networks including: Nickelodeon, Nick at Night, VH1, Comedy Central, TV Land, Spike, Country Music Channel, Logo, Noggin, and others.

As CEO of MTV Networks, Freston expanded the company's reach, built an animation studio, produced feature films, and developed large consumer product and digital businesses. Popular characters and shows included: Blue's Clues, Beavis and Butt-head, SpongeBob SquarePants, The Daily Show with Jon Stewart, South Park, The Real World, Behind the Music, and Rugrats.

Viacom

In 2004, after Viacom President & COO Mel Karmazin stepped down, Freston was named Co-President & Co-COO of Viacom (along with Leslie Moonves).^[5] Freston oversaw MTV Networks, Paramount Pictures, Famous Music Publishing, and Simon & Schuster.^[6]

In January 2006, Viacom split into two separate companies: Viacom led by Freston and CBS Corporation headed by Moonves.^[7]

In September 2006, Viacom chairman Sumner Redstone stunned the entertainment industry when he fired Freston from the position of CEO. One of the chief reasons for the move was that Freston hadn’t moved decisively enough to buy MySpace, which was then the most popular social networking site; instead Rupert Murdoch's News Corporation purchased the site for $580 million. Redstone believed that the failure to acquire MySpace contributed to the 20% drop in Viacom’s stock price in 2006 up to the date of Freston’s ouster. Freston's successor as CEO, Philippe Dauman, was quoted as saying “never, ever let another competitor beat us to the trophy”. Redstone told interviewer Charlie Rose that losing MySpace had been “humiliating,” adding, “MySpace was sitting there for the taking for $500 million.” Murdoch's company ended up selling Myspace, which had largely declined along with the rise of rival social networking website Facebook, in 2012; News Corp's sale price at the time was $35 million.^[8]

Post Viacom

He currently is the principal in Firefly3 LLC, a consulting and investment company.^[9] He is an advisor to Vice Media and the Moby Group, a Dubai based media company. He is also an advisor to the Raine Group, a boutique merchant bank.

Philanthropy and awards

Freston is now Board Chairman of the ONE Campaign,^[10] an advocacy organization for extreme poverty issues, that was started by Bono.^[11] He also serves on the boards of DreamWorks Animation, Moby Group, Vice Media and Imagine Entertainment.

He has received many industry awards and recognitions. Freston was noted by "Time" in 2006 as one of the top 100 most influential people in the world.^[12] He was inducted into the Television Hall of Fame in 2010.^[13]

Personal life

In 1980, Freston married Margaret Ellen Badali.^[14] They had two children, Andrew (b.1985) and Gilbert (b. 1990).^[15] They later divorced.

In 1998, Freston married Kathy Freston, a former model, self-help author, and health and wellness expert.^[16][17] In 2014, they divorced.

Bibliography

• Freston, Tom (Dec 2012). "Aung San Suu Kyi". V.F. Portrait. Vanity Fair. 628: 158–159. Retrieved 2015-10-09. 

After helping to found MTV, Tom Freston reigned as C.E.O. of Viacom. But it was never his natural habitat. Bono recalls how he cheered when Freston (V.F.’s Man in Kabul) left, in 2006—then promptly recruited him to become chairman of One and (Red), organizations fighting extreme poverty and AIDS in Africa.

References

External links

• Old Viacom Bio at the Wayback Machine (archived June 11, 2005)
• Tom Freston interview video at the Archive of American Television