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Thomas E. Freston is an entertainment industry executive. Returning to the USA in 1979, he joined the Warner-Amex Satellite Entertainment Company (WASEC), a leader in the brand new field of cable television programming. He was among the founding members of the team that created MTV: Music Television. As head of advertising, he worked about the “I Want My MTV” ad campaign which helped make the brand new network a cultural phenomenon. MTV Networks established and managed networks including: Nickelodeon, Nick at Night, VH1, Comedy Central, TV Land, Spike, Country Music Channel, Logo, Noggin, among others. As CEO of MTV Networks, Freston enlarged the business’s reach, constructed an animation studio, produced feature films, and developed substantial consumer product and digital companies. Freston manage MTV Networks, Paramount Pictures, Famous Music Publishing, and Simon & Schuster. In January 2006, Viacom split into two independent businesses: Viacom directed by Freston and CBS Corporation headed by Moonves. Among the chief reasons for the move was that Freston had not went decisively enough to purchase MySpace, which was afterward the most popular social networking site; instead Rupert Murdoch’s News Corporation bought the website for $580 million. Redstone considered the failure to obtain MySpace led to the 20% fall in Viacom’s stock price in 2006 up to the exact date of Freston’s ouster. Freston’s successor as CEO, Philippe Dauman, was quoted as saying “never, ever let another opponent beat us to the prize”. Redstone told interviewer Charlie Rose that losing MySpace had been “humiliating,” including, “MySpace was sitting there for the taking for $500 million.” Murdoch’s business ended up selling Myspace, which had mostly dropped combined with the rise of competing social networking website Facebook, in 2012; News Corp’s sale price at the time was $35 million.