He was named Co-President & Co-COO of Viacom in 2004. For not purchasing MySpace Freston was shockingly fired in 2006. Freston now works as a principal for Firefly3 LLC. He is on the boards of the ONE Campaign and DreamWorks Animation. In 2006 Time named Freston as one of the Top 100 most influential people in the world. In 2010 he was inducted into the Television Hall of Fame. He now works with Bono for the One and (Red) campaigns. Freston also currently writes a monthly column for Vanity Fair.