Tom Freston, a founder of the MTV network, once observed: “What’s fascinating about the future is that so many people claim to understand it.” In 2006, Freston, then CEO of Viacom, was fired by Sum…
, testifies that spending on content should climb from $1 billion to $5 billion a year, focused on streaming content.
The Sumner-Freston imbroglio of 2006 focused not on MTV but on the social media. Sumner Redstone wanted to prod Viacom into the future by acquiring MySpace for a formidable tab of $580 million. Freston vetoed the deal, prompting Rupert Murdoch to dive in, thus embarrassing Redstone. Before long, Murdoch dumped MySpace for $35 million.
Robbins, 58, a former actor, had been recruited by Shari’s CEO, Bob Bakish, to run Paramount Players, then Nickelodeon. Prior to that he had produced an Eddie Murphy movie titledand started a YouTube channel, Awesomeness, which evolved into a multi-channel network and studio, acquired by DreamWorks Animation and eventually by Viacom. His key assignment now will be to oversee film with a likely reduction in theatrical features and a focus on streaming.
A key rival at that time was the Fox regime then co-headed by Gianopulos and Rothman, whose tenure abruptly ended when Murdoch decided the studio no longer needed Rothman’s bombastic presence. The team had experienced an excellent run: Brilliantly innovative but quickly exasperated, Rothman complemented his then-partner’s calm, reassuring manner.
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