NEW YORK (AP) — Longtime media executive Jeff Shell is leaving Paramount, in a move that arrives amid a messy legal battle and the Skydance-owned company's ongoing efforts to take over Hollywood rival Warner Bros. Discovery.
Paramount confirmed Wednesday that Shell had “elected to transition” from his post as company president and member of the board of directors. The company said its board reviewed allegations made in a recent lawsuit alleging Shell had violated
certain securities disclosure rules — but found no evidence of such violation. Still, Paramount said the executive had decided to focus on ongoing litigation.
“PSKY is grateful for Mr. Shell’s many contributions and to have relied on him as a valued advisor,” Paramount said in a statement. The company didn't immediately specify who would succeed Shell as president.
Last month, Shell was sued for fraud by a man named R.J. Cipriani, who claimed he provided the Paramount executive with 18 months of crisis communications services between 2024 and 2026 without any compensation. In exchange for these services, Cipriani alleged that Shell had initially said he would help him develop an English-language version of a Spanish show already airing on Roku, but broke that promise. His March 9 complaint, filed in California, asserted he was now owed $150 million.
Cipriani also accused Shell of sharing non-public information and comments related to Paramount's partnership with the Ultimate Fighting Championship and proposed acquisition of Warner Bros. Discovery, which his complaint argued violated federal securities rules.
Shell filed a counterclaim, accusing Cipriani of defamation and extortion in what he called a “shakedown” for a “massive payday” for services he said he didn't ask for. And he maintained that claims he had shared confidential information about Paramount's UFC and Warner deals were false.
The legal battle has grown ever since. Cipriani later added Paramount, CEO David Ellison and other company leadership to his suit. Paramount on Wednesday maintained that it would “respond in the proceedings to the frivolous and baseless claims” made against the company and named board members. Legal contacts for Shell declined to comment further.
This isn't the first time Shell has abruptly departed a top corporate post. In 2023, Shell stepped down as CEO of NBCUniversal over an inappropriate relationship he had with a woman at the company, following an investigation from NBC parent Comcast.
Shell worked closely with Ellison throughout Skydance's acquisition of Paramount, which closed just this past August. The company has since set its eyes on an even bigger fish — Warner — in an $81 billion buyout that could vastly reshape Hollywood and the wider media landscape. Following months of a drawn-out (and once hostile ) fight with Netflix over the Hollywood giant, Paramount and Warner leadership struck a deal that shareholders are set to vote on April 23. And regulators are continuing to review it.
