Hollywood loves a second act — or so the saying goes — just not in the case of Jeff Shell.
Laura Shell, Jeff Shell, Stephen Burke and Gretchen Burke at the 76th Annual Golden Globe Awards held at the Beverly Hilton Hotel on January 6, 2019., whom Shell fired at Universal eight years earlier.
Even more problematic for Shell, according to multiple sources, was that Larry Ellison — one of the richest people in the world who was bankrolling Paramount’s takeover of Warner Bros — didn’t like him. Those exchanges appeared to show Shell discussing “very hush hush” details of a $7.7 billion Paramount+ streaming deal with the UFC before it was public. Themade it clear that his exit was nigh. It was just a matter of when and how brutal that exit would be.Bruce Springsteen's anti-Trump tour's ironic benefactor exposes The Boss' hypocrisyOne source noted to P6H that Paramount’s org chart never made much sense. Even with the title of president Shell had no direct reports from the content side. Also, the fact that Ellison was able to pull off the takeover of Warner Bros. Discovery — which required closing deals with the sovereign funds of Saudi Arabia, Qatar and the United Arab Emirates — all while Shell was being investigated for his conduct suggests to some that his role was unnecessary. Technically speaking, Shell, who also was a Paramount Skydance board member, resigned from Paramount, which was not the case three years ago when he was fired for cause at NBCUniversal. In that instance, Shell walked away empty handed from his role as chief executive officer of NBCUniversal after an investigation found that he allegedly sexually harassed former CNBC anchorThis time around, it remains unclear what, if anything, he is taking with him. Sources associated with the now-unemployed executive noted that the studio’s official statement made it clear that Paramount’s internal investigation of Shell, conducted by the law firm Gibson Dunn, cleared him of wrongdoing. However, while the statement did say that a “complete and thorough” investigation found no “securities law violation,” it made no mention of breach of contract. (Then again, Paramount is in a bit of a bind due to. The blackjack player sued Shell for $150 million in early March but then filed an amended complaint in which heSherry LansingLos Angeles Times via Getty Images Paramount has remained tightlipped surrounding Shell’s departure and offered no guidance on his unfulfilled contract, as reps for both Paramount and Shell declined comment. If nothing else, Shell’s politics made him an odd fit at Paramount. Both Larry and David Ellison have close relationships with theadministration and have made high-profile appearances at the White House. Several of the studio’s top executives are MAGA-friendly including Greenstein and CBS News chiefFor his part, Cipriani was taking a victory lap on Wednesday afternoon, gloating over Shell’s demise and questioning some of the language in Paramount’s statement. “The studio statement is complete bulls–t. Why else would he step down?” Cipriani commented to P6H. “Paramount has a $150 million reason to give that bogus statement. No one steps down paying $5 million per year and millions in stock options. Do the Ellisons think people are dumb? They’re spinning their tires. Do they forget who I am in the PR world? I don’t just do damage control. I do damage.” Laura Shell, Jeff Shell, Stephen Burke and Gretchen Burke at the 76th Annual Golden Globe Awards held at the Beverly Hilton Hotel on January 6, 2019.New England Patriots’ Mike Vrabel and top NY Times NFL reporter Dianna Russini hold hands and hug at luxury hotel
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