Viacom CEO Tom Freston was ousted by Chairman Sumner Redstone over the weekend only days after Paramount's refusal to continue working with controversial actor Tom Cruise and a less public tiff between Freston and CBS chief Les Moonves. Who replaced the former head of MTV? Redstone tapped Viacom alum-turned-dealmaker Philippe Dauman. Joining Dauman is Thomas Dooley, who will take the newly created post of senior executive vice president. For both Dauman and Dooley the new hiring is a homecoming, as both had served as co-chairs of Viacom from 1996 to 2000. After Viacom merged with CBS in 2000, both stepped aside and formed private equity firm DND Capital Partners, whose biggest claim to fame is the creation of cable network The Tennis Channel, according to Dealbook. What does the homecoming for Dauman and Dooley mean for Viacom? The hiring of two dealmakers suggests that Viacom maybe on the prowl for a new round of deals. With its stock near a 52-week low, the idea of two buyout guys running the media giant could make sense. After all, if deals are to be made, then Viacom would either have to tap its cash reserves or use debt — and buyout guys know a lot about managing debt. Alternatively, it is possible that Redstone has tapped the two men to prepare the company for a massive privitization of the company. Again, this would probably involve debt financing. So, don't be surprised if S&P or Moody's tweak their debt ratings on the company in the coming weeks. —Matthew Wurtzel
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I hope they get the racketeers at Astoria. While my case Marilyn Lane vs. Astoria Federal was in Federal Court, Astoria without jurisdiction went into NY State Court and auctioned for my two condos. By word and writing I told them they couldn't do it and they said "who is going to stop us?" I hope they get them.