Paramount Says Some Real Estate Could Be Sold

Jeff Shell, the new president of Paramount Global following its $8 billion merger with Skydance Media, announced Thursday, that the company is evaluating its real estate portfolio for potential sales as part of a broader strategy to optimize assets and achieve cost efficiencies. 

During a media briefing, Shell indicated that while the iconic Paramount Lot in Los Angeles and the CBS Broadcast Center in New York City are likely to remain untouched due to their strategic importance, other properties are under review. 

Jeff Shell

These include National Amusements’ portfolio of movie theaters and Paramount’s Times Square headquarters in New York City. The fate of the Ed Sullivan Theater, home to “The Late Show,” is also uncertain as discussions continue about programming changes after Stephen Colbert’s show ends in 2026.

This move aligns with Paramount’s goal of achieving at least $2 billion in cost savings, as outlined by the new leadership team, including CEO David Ellison. The focus is on managing the company’s declining linear TV business and maximizing cash flow, with real estate sales being one avenue to support this objective.

Shell’s comments reflect a strategic shift to streamline operations while preserving core assets critical to Paramount’s identity and infrastructure.