Overview
- Paramount Skydance is now without its president after trade outlets reported Jeff Shell was negotiating an exit during an internal review tied to active litigation.
- Whistleblower R.J. Cipriani alleges Shell failed to pay for crisis work and disclosed material nonpublic details, including early word of a $7.7 billion UFC rights deal and views on Paramount’s bid for Warner Bros. Discovery.
- Shell has countersued, accusing Cipriani of extortion and defamation, and Cipriani later expanded his case to add David and Larry Ellison, Paramount Skydance directors, and RedBird Capital.
- Paramount has called Cipriani’s claims frivolous and vowed to defend itself vigorously, with Variety reporting the company enlisted law firm Gibson Dunn to investigate.
- The legal fight unfolds as Paramount pursues its planned purchase of Warner Bros. Discovery, which still needs regulatory and shareholder approval, including a shareholder vote set for April 23.