Former Viacom CEO Tom Freston announced that he's investing in and becoming an advisor to multi-platform media company Vice, whose holdings include a magazine, a video-heavy Web site, a film and book
label, and a TV show on MTV -- Freston's former baby at Viacom. In fact, Vice is said to be similar to MTV for its edginess and target audience -- young men.
In this summary of a video clip on
CNBC.com, Freston also discusses his past life in big media. He gives a great quote when asked about the precarious fate of MySpace, the property he was fired for not purchasing: he's "still waiting
for Sumner Redstone to send him a thank you note."
Read the whole story at CNBC.com »