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You're Fired

Jan 07 2009

Back to: Sumner's Discontent

Tom Freston and Tom Cruise
Frank Biondi and Sumner Redstone
Tom Cruise and Sumner Redstone
Tom Freston and Sumner Redstone
Mel Karmazin and Sumner Redstone
Brent Redstone
Phyllis and Sumner Redstone
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Getting the Pink Slip
From A-list actors to blood relatives, six recipients of Sumner Redstone's pink slip.
Frank Biondi
After nine years as Viacom's C.E.O., Biondi got the boot in January 1996. Redstone told the Viacom board that Biondi wasn't delivering "nimble and aggressive" leadership. Biondi is now on Yahoo's nonexecutive board and is part of the committee leading the search to replace C.E.O. Jerry Yang.
Tom Cruise
Redstone cut Cruise from Paramount Pictures in August 2006, after Mission: Impossible III earned $82 million less than the previous installment and a series of highly publicized antics, including Cruise’s Scientology proselytizing and his verbal attack against Brooke Shields, made the actor a popular punch line.
Tom Freston
In September 2006, Redstone ousted Freston from his job as Viacom C.E.O. after an eight-month tenure, telling analysts that his communication with Wall Street was "deficient." Redstone replaced Freston, a 20-year Viacom veteran who built MTV Networks, with Philippe Dauman.
Mel Karmazin
Once considered the likely heir to Redstone's throne, Karmazin instead left under pressure in June 2004, a move that was largely seen as another indication of Redstone's hunger for power. Karmazin became Viacom's president after it merged with CBS-Infinity in 2000.
Brent Redstone
In 2003, Viacom reduced its board's size and requested that Leslie Moonves and Sumner's son, Brent, not run for reelection. Among those replacing them were former Bear Stearns chairman Alan Greenberg and former Defense Secretary William Cohen. Sumner bought Brent's National Amusements shares in 2006.
Phyllis Redstone
After 52 years of marriage, Phyllis divorced Sumner and reportedly received a $100 million cash settlement. During the divorce proceedings in 1999, she stepped down as a director of National Amusements.

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