Jeff Shell is reportedly out as president of Paramount less than a year into the job, marking a stunning second downfall for the embattled media executive amid a bombshell lawsuit accusing him of leaking corporate secrets.
Shell’s ouster comes after weeks of turmoil tied to a $150 million lawsuit filed by a high-stakes gambler — and an internal probe into his conduct, according to Deadline.
The dismissal marks the second time in just three years that Shell has been forced out of a top media job.
He was fired as CEO of NBCUniversal in 2023 after an internal investigation found he had an inappropriate relationship with a subordinate, then-CNBC anchor Hadley Gamble.
The Post has sought comment from Paramount and Cipriani. Shell could not be reached.
Shell and Paramount are being sued by RJ Cipriani, a Santa Monica, Calif.-based high-stakes gambler and self-described “fixer” who claims to operate behind the scenes placing stories and managing media narratives for powerful clients.
In his lawsuit, he alleges he provided Shell with 18 months of crisis communications and reputation management — including steering negative press and planting favorable coverage — without receiving payment.
In return, Cipriani says Shell promised to help develop and air a television project tied to his late mother — a deal Cipriani claims was never fulfilled.
Cipriani also alleged Shell disclosed sensitive, non-public details about Paramount’s multibillion-dollar deals — including its $7 billion UFC rights agreement and strategy surrounding its bid for Warner Bros. Discovery.
He has since filed a whistleblower complaint with the Securities and Exchange Commission tied to those alleged disclosures.
Deadline reported that a review conducted by outside counsel at Gibson Dunn found no evidence to support Cipriani’s claims that Shell improperly shared confidential information, though the lawsuit and related litigation remain ongoing.
“At this level, it’s not about proving the allegations — it’s about whether the situation creates too big a risk,” Kaivan Shroff, a media and cultural analyst and founder of the Yale School of Management Social Media Hub, told The Post.
“Once a president is tied to claims about sharing confidential deal info, the company can’t afford to keep them in place. The standard isn’t guilt or whether a fancy law firm clears you … it’s whether you’ve become a liability. And he had.”
Last week, the Status newsletter reported that Shell and Paramount entered exit talks after CEO David Ellison decided that the Cipriani lawsuit was the last straw.
