By Rebecca Rubin, Brent Lang
Virginia Sherwood/NBCUniversal/NBCU Photo Bank via Getty Images) Jeff Shell‘s legal team is engaged in preliminary talks with Paramount Skydance on a possible exit from the media giant, where currently serves as president. If Shell remains at the company, he will most likely transition to a different, more advisory role, according to a source with knowledge of the negotiations.
The talks come during a messy legal battle in which Shell was sued March 9 by R.J. Cipriani, a professional gambler who claims he is owed $150 million for crisis communications services. Cipriani’s lawsuit also alleges that Shell shared confidential info about Paramount Skydance with Cipriani, including Shell’s alleged belief that Paramount is overpaying for Warner Bros. Discovery. Paramount has an agreement in place to acquire Warner Bros. Discovery for $111 billion; the deal is pending regulatory approval. Shell initially was supposed to remain on board until the transaction had been completed, but it looks as though that timetable has been expedited.
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