Stephen Chao got an MBA from Harvard, went to work for the National Enquirer, and then Rupert Murdoch brought him on to help Barry Diller create the Fox network back in the '80s.
Chao was famously fired by Murdoch, who was almost a father to him, after a speech on sex versus violence in the media at an event which included Murdoch and Dick Cheney. Legend has it that during his speech, Chao had a naked guy come out on stage, and then pointed a gun at him--asking the audience which was more disturbing.
That was the end of his tenure at Fox, even though he'd brought such hits as "Cops" and "America's Most Wanted" to the network.
Chao eventually worked with Diller again at USA Networks, before leaving TV. He re-emerged in January as co-creator of www.wonderhowto.com, and I'm doing a story on him and the site today. WonderHowTo hopes to be the next YouTube, but do Google one better--be cash flow positive on the site in three years.