Jeff Shell Out At Paramount Skydance

Paramount President Jeff Shell will leave the company Wednesday and is expected to resign from its board, people familiar with the matter said.

The departure follows an internal probe into allegations that Shell disclosed confidential company information to R.J. Cipriani, who sued in March claiming he had consulted for Shell and alleging Shell leaked advance notice of Paramount’s $7.7 billion UFC media-rights deal and other nonpublic details. Cipriani’s initial breach-of-oral-contract and fraud suit also says Shell reneged on a promise related to a Roku music‑reality project; he later filed a related suit naming Paramount and its board.

Jeff Shell

Paramount hired outside counsel to investigate Cipriani’s claims. People familiar with the situation said Shell’s exit was expected regardless of the Cipriani dispute, and that most of Paramount’s key unit leaders reported to CEO David Ellison.

Shell’s split from Paramount comes after prior high‑profile departures: he resigned as CEO of NBCUniversal in April 2023 following an investigation into a sexual‑harassment complaint, saying he had had an “inappropriate relationship” with a colleague. 

Shell previously held senior roles at Disney and Fox and led RedBird Capital Partners’ sports and media portfolio before joining Paramount after Ellison’s Skydance took control. Cipriani and Shell, the complaint says, were introduced by attorney Patricia Glaser.

Cipriani alleges Shell failed to pay him for crisis‑communications work and that Shell disclosed material nonpublic information to him, including details of Paramount’s $7.7 billion UFC media‑rights deal and plans to sweeten its bid for Warner Bros. Discovery. Shell countersued for defamation and extortion; Cipriani then expanded his suit to name Paramount, its board and the Ellison family. Paramount said an independent review found the allegations did not constitute a securities‑law violation.