Jeff Shell, the former CEO of NBCUniversal, is poised to take on a major leadership role at Paramount Global once its merger with Skydance Media is completed in early 2025, pending regulatory approval, CNBC reports.
Shell will serve as president of the combined company, reporting to Skydance CEO David Ellison, who will take on the role of CEO of the new entity.
Shell, known for his bold ideas and a management style that some describe as “shoot first, aim later,” is expected to have more freedom at Paramount than he did during his tenure at NBCUniversal. His time at NBCUniversal, which ended abruptly in 2023 following allegations of sexual harassment, was marked by a series of ambitious but often unrealized initiatives, such as turning over NBC’s 10 p.m. programming to affiliates and merging with rival media companies.
At Paramount, Shell will oversee an array of assets similar to what he managed at NBCUniversal, including a major broadcast network (CBS), a movie studio (Paramount Pictures), and a streaming service (Paramount+). One of his key tasks will be to guide the company through a period of significant transition as traditional linear television continues to decline.
Shell’s previous experiences at NBCUniversal, particularly his willingness to explore dramatic changes in programming and mergers, offer a glimpse of what might be in store for Paramount. Sources suggest he may revisit the idea of relinquishing CBS’s 10 p.m. hour to local affiliates, which could save millions in content costs. Additionally, Shell is expected to focus on cutting costs and identifying $2 billion in efficiencies, a target outlined by Skydance during merger discussions.
While Shell is known for his willingness to push boundaries, colleagues and analysts have also warned that some of his more radical ideas could be destabilizing if not carefully managed. Still, many see his partnership with Ellison, a visionary leader focused on modernizing Paramount, as a promising combination for the future of the company.
Shell’s return to the media spotlight, after being ousted from NBCUniversal, reflects his ongoing influence in the industry. As Paramount transitions to the post-merger landscape, Shell’s role could be pivotal in shaping the company’s direction, particularly in the areas of sports programming and streaming content.
