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'''Thomas E. Freston''' (born November 22, 1945) is an American media executive and investor.
'''Thomas E. Freston''' (born November 22, 1945) is an American media proprietor, businessman, and financier.


==Early life and education==
==Early life and education==
Freston grew up in [[Rowayton, Connecticut]]. He received a Bachelor of Arts from [[Saint Michael's College]] and an MBA from [[New York University]].{{cn|date=October 2021}} 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.<ref>{{Cite news| url =https://www.nytimes.com/2011/09/19/business/media/from-mtv-to-building-afghan-tv-the-media-equation.html?_r=0|title=In Kabul, It's Not MTV, It's a Mission|work=[[The New York Times]] |author=David Carr |date =September 18, 2011}}</ref>
Freston grew up in Rowayton, Connecticut. He received a Bachelor of Arts from Saint Michaels

College 1967 and an Master of Business Administration from New York University (1969).


==Career==
==Career==
⚫
Returning to the United States 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 a music video channel [[MTV]] in 1981.<ref>{{Cite news| url = https://www.cnbc.com/id/42439380|title=Tom Freston's Bet on Vice and the Future of Media|publisher=[[CNBC]] |first=Julia|last=Boorstin |date =April 5, 2011}}</ref> As head of marketing, he worked on the "[[MTV|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.<ref>{{Cite news| url =https://www.wsj.com/articles/SB108610038613425748|title=Profile: Tom Freston Shaped Expansion of MTV Networks|publisher=[[The Wall Street Journal]] |date =June 1, 2004}}</ref> MTV Networks launched and operated networks including: [[Nickelodeon]], [[VH1]], [[Comedy Central]], [[TV Land]], [[Spike (TV channel)|Spike]], [[Country Music Television|CMT]], [[Logo TV]], [[Nick Jr. (TV channel)|Noggin]], and others.
Freston began his career in advertising at Benton & Bowles in 1970, which later merged with D’Arcy. In 1973, after a year of travel, 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 for eight years.

⚫
Returning to the United States in 1980, he joined 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 the music video channel [[MTV]] in 1981. As head of marketing, he worked on the “I Want My MTV” campaign that help make the new network a cultural phenomenon. In 1987 he became President and CEO of MTV Networks, a job held for 17 years. MTV Networks launched and operated networks including, Nickelodeon, Nick at Nite, VH1, Comedy Central, TV Land, Country Music Television, Noggin, and others. Its hit shows like SpongeBob, Dora the Explorer, Blues Clues, Rugrats, The Real World, Beavis & Butthead, the Video Music Awards, Unplugged, The Daily Show, The Colbert Report, Behind the Music, Storytellers, 120 Minutes, South Park became pop culture mainstays.

Freston grew MTV Networks into a global multi-billion-dollar business, expanding into international television, film production and product licensing and merchandising. MTV became the first international television network, with separate feeds in over 100 countries on every continent with hundreds of millions of viewers. MTV Networks produced 40 feature films with sister division Paramount that grossed over $2.1 billion worldwide. Films included Beavis & Butthead Do America, Napoleon Dynamite, Jackass, SpongeBob, Election, Zoolander, Team America, and others.

'''VIACOM'''

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

On January 1, 2006, Viacom was split into suits two separate companies – the second Viacom, led by Freston, and CBS Corporation headed by Moonves. Both were under National Amusements administration until 2019.

⚫
In September 2006, Viacom Chairman Sumner Redstone stunned the entertainment industry when he fired Freston from his position of CEO. One of the chief reasons was that Freston had not moved decisively to buy [[MySpace]], then the most popular social networking site. Instead, Rupert Murdoch’s News Corporation purchased it for $580 million. Redstone believed that the failure to acquire MySpace contributed to a drop in Viacom stock price in 2006. Freston 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 with the rise of rival social network [[Facebook]]. In 2012 [[News Corporation]] sold MySpace for $35 million.

'''POST-VIACOM'''

Freston formed a consulting and investment company, Firefly3 LLC, that invested in media related start-ups.

In 2007 he became the Board Chair of the ONE Campaign, an advocacy group fighting poverty and preventable disease in Africa founded by [[Bono]], lead singer of [[U2]], in 2004. As of 2024, he has served as Board Chair for 17 years. ONE is funded by the Gates Foundation, Bloomberg Philanthropies, Open Society Foundation, and others.

In 2007, he returned to Afghanistan to work with the Moby Group's Tolo TV, the leading private broadcaster in the country. Moby Group went on to launch other media businesses in India, Ethiopia, and other frontier markets. Freston served as both advisor and board member until 2018.


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 brands and shows included: ''[[Blue's Clues]]'', ''[[Beavis and Butthead]]'', ''[[The Adventures of Pete & Pete]]'', ''[[SpongeBob SquarePants]]'', ''[[Daria]]'', ''[[The Daily Show]]'', ''[[Jackass (TV series)|Jackass]]'', ''[[South Park]]'', ''[[Drawn Together]]'', ''[[Crank Yankers]]'', ''[[The Fairly OddParents]]'', ''[[Aeon Flux]]'', ''[[Chappelle's Show]]'', ''[[I Love the '80s (U.S. TV series)|I Love the...]]'', ''[[Behind the Music]]'', ''[[Avatar: The Last Airbender]]'', ''[[The Colbert Report]]'', ''[[Wonder Showzen]]'', ''[[The Ren & Stimpy Show]]'', ''[[The Real World (TV series)|The Real World]]'', ''[[Dora the Explorer (TV series)|Dora the Explorer]]'', ''[[Rugrats]]'', and ''[[Star Trek]]'' series (from ''[[Star Trek: The Next Generation|Generation]]'' to ''[[Star Trek: Deep Space Nine|Deep Space Nine]]'').
In 2008, he became advisor to Oprah Winfrey for her launch of the Oprah Winfrey Network (OWN), a partnership with Discovery Networks.


===Viacom===
In 2011 Freston became a Senior Advisor to [[The Raine Group]], a boutique merchant bank specializing in the technology, media, and telecom businesses (TMT). There he served on the boards of Vice Media, Margaritaville Enterprises, and Imagine Entertainment.
In 2004, after [[Viacom (1952–2006)|Viacom]] President & COO [[Mel Karmazin]] stepped down, Freston was named Co-President & Co-COO of Viacom (along with [[Leslie Moonves]]).<ref>{{Cite news| url =http://www.cnn.com/2005/BUSINESS/06/14/viacom.split/index.html?eref=sitesearch|title=Viacom board opts to split company|publisher=[[CNN]] |date =June 14, 2005}}</ref> Freston oversaw MTV Networks, [[Paramount Pictures]], [[Famous Music Publishing]], and [[Simon & Schuster]].<ref>{{Cite news| url =http://www.multichannel.com/news/internet-video/viacom-names-hr-heads/301185|title=Viacom Names HR Heads |publisher=[[Multichannel News]] |author=Multi Channel News Staff|date =September 15, 2005}}</ref>


On December 31, 2005, Viacom was split into two separate companies – the [[Viacom (2005–2019)|second Viacom]] led by Freston, and [[CBS Corporation]] headed by Moonves; both CBS Corporation and the second Viacom were under National Amusements administration [[2019 merger of CBS and Viacom|until 2019]].<ref>{{cite web|url=https://www.nytimes.com/2005/06/15/business/media/viacom-board-agrees-to-split-of-company.html|title=Viacom Board Agrees to Split of Company|last=Fabrikant|first=Geraldine|date=June 15, 2005|work=New York Times|access-date=March 10, 2014}}</ref>
He has served on the board of New America, a Washington DC-based think tank. He is a trustee Emeritus at the American Museum of Natural History and has served on the board of the Rock and Roll Hall of Fame. He has written 30+ travel related articles for Vanity Fair.


⚫
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 (1980–2013)|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.<ref>{{cite web |last1=Lieberman |first1=David |title=MySpace Debacle Vindication For Fired Viacom CEO Tom Freston |url=https://www.deadline.com/2011/06/myspace-debacle-vindication-for-fired-viacom-ceo-tom-freston/ |website=Deadline |access-date=March 10, 2019 |date=June 30, 2011}}</ref>
He was inducted into the Academy of Television Arts and Sciences Hall of Fame in 2010. He was inducted into the Cable Hall of Fame in 2005. In 2005 Mr. Freston was cited in Time magazine's initial '100 Most Influential People in the World' issue. He has received many industry awards and honors.


===Post-Viacom===
Freston is currently the principal of Firefly3 LLC, a consulting and investment company. In January 2015, he became a senior advisor to The Raine Group, a boutique merchant bank.<ref>{{Cite web|url=https://www.hollywoodreporter.com/news/tom-freston-joins-raine-group-767077|title=Former Viacom CEO Tom Freston Joins Raine Group as Senior Adviser|website=The Hollywood Reporter|language=en|access-date=2019-04-30}}</ref>
==Personal life==
==Personal life==
In 1980, Freston married Margaret Ellen Badali. They had two children and later divorced.
In 1980, Freston married Margaret Ellen Badali.<ref>[http://www.tcm.com/tcmdb/person/529104%7C0/Tom-Freston/ Turner Classic Movies: "Tom Freston"] retrieved October 13, 2012</ref> They had two children<ref>[https://abcnews.go.com/TheLaw/story?id=3719941&page=1 ABC News: "Supreme Court Ruling Hailed as Victory for Special Education" By SUSAN DONALDSON JAMES] October 12, 2007</ref> and later divorced.


In 1998, Freston married Kathy Law, a former model, self-help author, and health and wellness expert. They divorced in 2014.
In 1998, Freston married [[Kathy Freston]], a former model, self-help author, and health and wellness expert.<ref>[http://www.wmagazine.com/celebrities/2008/05/kathy_freston W magazine: "Guiding Light - Self-help entrepreneur Kathy Freston brings transcendence to the media-mogul set" By Emily Holt] May 2008</ref> They divorced in 2014.


==Bibliography==
==Bibliography==

Latest revision as of 21:08, 19 May 2024

Tom Freston
Tom Freston at the 2011 Time 100 gala.
Born (1945-11-22) November 22, 1945 (age 78)
New York City, U.S.
Alma materSaint Michael's College (BA)
New York University (MBA)
OccupationBusinessman
Years active1979–present
Known forCEO of Viacom's MTV Networks (1987–2004)
Board member ofOne Campaign
Firefly3
Moby Group
Spouses
Margaret Ellen Badali
​
​
(m. 1980, divorced)​
​
​
(m. 1998; div. 2014)​
Children2

Thomas E. Freston (born November 22, 1945) is an American media proprietor, businessman, and financier.

Early life and education[edit]

Freston grew up in Rowayton, Connecticut. He received a Bachelor of Arts from Saint Michael's College and an MBA from New York University.[citation needed] 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.[1]

Career[edit]

Returning to the United States 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 a music video channel MTV in 1981.[2] 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.[3] MTV Networks launched and operated networks including: Nickelodeon, VH1, Comedy Central, TV Land, Spike, CMT, Logo TV, 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 brands and shows included: Blue's Clues, Beavis and Butthead, The Adventures of Pete & Pete, SpongeBob SquarePants, Daria, The Daily Show, Jackass, South Park, Drawn Together, Crank Yankers, The Fairly OddParents, Aeon Flux, Chappelle's Show, I Love the..., Behind the Music, Avatar: The Last Airbender, The Colbert Report, Wonder Showzen, The Ren & Stimpy Show, The Real World, Dora the Explorer, Rugrats, and Star Trek series (from Generation to Deep Space Nine).

Viacom[edit]

In 2004, after Viacom President & COO Mel Karmazin stepped down, Freston was named Co-President & Co-COO of Viacom (along with Leslie Moonves).[4] Freston oversaw MTV Networks, Paramount Pictures, Famous Music Publishing, and Simon & Schuster.[5]

On December 31, 2005, Viacom was split into two separate companies – the second Viacom led by Freston, and CBS Corporation headed by Moonves; both CBS Corporation and the second Viacom were under National Amusements administration until 2019.[6]

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.[7]

Post-Viacom[edit]

Freston is currently the principal of Firefly3 LLC, a consulting and investment company. In January 2015, he became a senior advisor to The Raine Group, a boutique merchant bank.[8]

Personal life[edit]

In 1980, Freston married Margaret Ellen Badali.[9] They had two children[10] and later divorced.

In 1998, Freston married Kathy Freston, a former model, self-help author, and health and wellness expert.[11] They divorced in 2014.

Bibliography[edit]

References[edit]

  1. ^ David Carr (September 18, 2011). "In Kabul, It's Not MTV, It's a Mission". The New York Times.
  2. ^ Boorstin, Julia (April 5, 2011). "Tom Freston's Bet on Vice and the Future of Media". CNBC.
  3. ^ "Profile: Tom Freston Shaped Expansion of MTV Networks". The Wall Street Journal. June 1, 2004.
  4. ^ "Viacom board opts to split company". CNN. June 14, 2005.
  5. ^ Multi Channel News Staff (September 15, 2005). "Viacom Names HR Heads". Multichannel News.
  6. ^ Fabrikant, Geraldine (June 15, 2005). "Viacom Board Agrees to Split of Company". New York Times. Retrieved March 10, 2014.
  7. ^ Lieberman, David (June 30, 2011). "MySpace Debacle Vindication For Fired Viacom CEO Tom Freston". Deadline. Retrieved March 10, 2019.
  8. ^ "Former Viacom CEO Tom Freston Joins Raine Group as Senior Adviser". The Hollywood Reporter. Retrieved 2019-04-30.
  9. ^ Turner Classic Movies: "Tom Freston" retrieved October 13, 2012
  10. ^ ABC News: "Supreme Court Ruling Hailed as Victory for Special Education" By SUSAN DONALDSON JAMES October 12, 2007
  11. ^ W magazine: "Guiding Light - Self-help entrepreneur Kathy Freston brings transcendence to the media-mogul set" By Emily Holt May 2008

External links[edit]

source: https://en.wikipedia.org/w/index.php?title=Tom_Freston&diff=1224685857&oldid=1196259463