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>In the summer of 1987, Sumner M. Redstone wrested control of Viacom in a hostile corporate takeover that left scorched relationships with the company’s management. Still bitter, executives sent Thomas E. Dooley, Viacom’s 30-year-old treasurer, to greet Mr. Redstone when he visited the Viacom office, the new boss wearing a plaid jacket bought on his way, the Filene’s Basement price tag still visible.
>Nearly three decades later, Mr. Redstone, with his daughter, Shari Redstone, at his side, has won yet another caustic fight for control of Viacom and the future of his $40 billion media empire. The battle has ruined relationships with some of Mr. Redstone’s longest confidants, exposed family feuds and sent Viacom into turmoil. Once again, Mr. Dooley is acting as the go-between for the entrenched Viacom regime and the Redstones.
>On Friday, Viacom elevated Mr. Dooley to interim chief executive from chief operating officer. He was appointed as Viacom announced that the embattled Philippe P. Dauman had stepped down as chief executive, with a severance package valued at about $72 million. (Since being named chief executive of Viacom in 2006, Mr. Dauman’s total reported compensation was $409.7 million even as the company has struggled in recent years.)
>With a truce declared in the battle for control of the 93-year-old Mr. Redstone’s companies, a harsh spotlight now is focused on Viacom’s struggling business. The company, which owns the MTV, Comedy Central and Nickelodeon cable television networks and the Paramount Pictures film and television studio, has had a nearly 50 percent plunge in its share price in the last two years.
>This was the company that ignited the careers of Jon Stewart and Stephen Colbert, brought to life characters like SpongeBob SquarePants and Dora the Explorer and had generations demanding the music videos of MTV.
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