Jeff Shell is exiting another major publisher.
According to multiple news outlets, including Deadline and Variety, Shell, who served as president of Paramount Skydance, is out at the company.
Prior to the announcement, Shell had been facing allegations from reported pro gambler RJ Cipriani that the executive had shared private information regarding Paramount. Cipriani also claimed Shell owed him $150 million for crisis communication services, according to reports. The pair had been engaged in a messy legal battle over the claims.
This is Shell’s second exit from a major publisher in the last few years. In 2023, Shell was ousted from his role as CEO of NBCUniversal following what was described as “an inappropriate relationship with a woman in the company.”
Shell was hired by Paramount in 2024 amid Skydance’s $8 billion merger with the company. Reports surfaced last week that Shell was in preliminary talks over an exit.
Following the news, Paramount Skydance released a statement on Shell’s exit, noting that it had looked into allegations that the executive had violated certain SEC disclosure rules.
“The facts demonstrated that these allegations do not establish a securities law violation,” the company said. Paramount Skydance also noted Shell had exited to focus on the lawsuit against him.
See the full statement below:
PSKY’s Board of Directors followed standard practice and, with the assistance of independent counsel, conducted a complete and thorough review of the allegations raised in a recently filed civil complaint that Mr. Shell, PSKY’s President, had violated certain SEC disclosure rules. The facts demonstrated that these allegations do not establish a securities law violation. Mr. Shell promptly notified PSKY of these accusations and is taking forceful legal action. PSKY and its named Board members will respond in the proceedings to the frivolous and baseless claims against PSKY and its named Board members and stockholders. Consistent with Mr. Shell’s commitment to prioritizing PSKY’s success, he has elected to transition from his positions as President of PSKY and a member of PSKY’s Board of Directors to focus on this lawsuit. PSKY is grateful for Mr. Shell’s many contributions and to have relied on him as a valued advisor.
