It looks like former Viacom CEO Tom Freston has found at least one outlet for some of the millions he got after chmn Sumner ousted him in Sept. Freston joined a $20 million investment round in Plum, the network of local TV stations serving exclusive areas like Aspen and Martha’s Vineyard. The round was led by The Kraft Group and The Raptor Fund. Plum plans to use the new dough to expand into Sun Valley, ID, and Miami Beach, FL.

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Tuesday–October 27

Operators Track Political Ad Shifts

Political advertisers will spend a total of $11.6 billion on campaigns ahead of next Tuesday’s midterms, making this cycle much pricier than the 2022 elections ($8.9 billion) and even the 2024 presidential election ($11.2 billion).

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