The case is currently before a mediator, who is facilitating discussions between both sides about a possible settlement. Staffers at the network have voiced their concerns over the matter, citing journalistic integrity, and Federal Communications Commission chief Brendan Carr has opened a probe into the Harris edit and opened it up for public comment.

President of Paramount Skydance

On July 7, 2024, Paramount's board approved the deal to merge with Skydance. The deal will close in two phases: first, a group of investors from Skydance will pay $2.4 billion in cash to purchase National Amusements, the parent company of Paramount Global; second, Paramount Global will pay its Class A and Class B stockholders $4.5 billion in cash and shares. In addition, Paramount will add $1.5 billion in primary capital to its balance sheet. The second phase will see an all-stock merger between Skydance Media and Paramount, valued at $4.75 billion. Equity holders in Skydance will get 317 million Class B shares, with a market value of $15 per share. Paramount Global would have 45 days to look for better or matching offers from other bidders before finalizing. If Paramount were to find a better offer, Skydance would be entitled to a $400 million breakup fee payout from the company. David Ellison would become chairman and CEO of the combined company with Shell as president.

According to Paramount Global, the merger will inject significant capital into Paramount, helping to address its debt and enabling investments in new content and technologies. It will support Paramount Global's expansion into other entertainment industries, such as animation, sports and video games, where it currently has less presence. Ellison's vision is for the new company "to be both a media and technology enterprise". Skydance will benefit from greater resources and infrastructure, allowing it to produce more large-scale content. Additionally, Skydance will gain from Paramount's brands, intellectual property, and distribution network.

On March 9, 2026, Jeff Shell was sued for $150M by R.J. Cipriani, a man claiming that Shell refused to help him produce a television series (entitled, Star Serenade), shared non-public information about the Paramount/Warner Bros merger, as well as for failing to pay Cipriani for crisis communications services.

On April 8, 2026, as a result of the lawsuit by Cipriani, Shell departed from Paramount Skydance.

Personal life

Shell is married to Laura Fay Shell, who worked for Los Angeles County Supervisor Zev Yaroslavsky as his planning deputy until 2005. His sister is Dana Shell Smith, and his brother is Dan Shell of IMG College.

In 2015, he was awarded the Dorothy and Sherrill C. Corwin Human Relations Award by the American Jewish Committee. Shell is a 2010 inductee into the Southern California Jewish Sports Hall of Fame.

In January 2019, Shell, along with Cindy Crawford, her husband Rande Gerber, Michael Meldman, and Jay Sures, announced they would purchase the Beverly Hills deli, Nate 'n Al, to keep its doors open after three generations of family ownership.

References