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It’s starting to seem more and more that the sudden firing of Tom Freston as Viacom’s CEO by Sumner Redstone was less about lagging share prices and more about Redstone going batshit crazy.
Since Freston’s firing Viacom’s stocks have plummeted, costing Redstone himself $113 million.
And yesterday afternoon when Freston was preparing to leave for the last time a group of about 2,500 employees used their blackberries and email to plan an impomptu sendoff.
The employees secretly made their way downstairs and into the lobby and on the streets. When Freston emerged from the elevator they gave him a raucous ovation.
According to one MTV source, “It was like Game Seven of the World Series down there.”
Viacom Staffers Give Freston Standing Ovation [Mediaweek]
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