Former NBCUniversal and Paramount Skydance executive Jeff Shell is making a comeback to the entertainment industry with plans to launch a standalone <a href="https://bitcomme.com/advanced-air-mobility-industry-brings-jobs-investment-to-miami-valley/” title=”Advanced air mobility industry brings jobs, investment to Miami Valley”>investment vehicle focused on acquiring and managing linear television assets, an individual familiar with the matter told TheWrap.
Shell’s new private venture would look to acquire or invest in the declining assets, which include cable TV networks, individual stations, or station groups, with plans to use the cash they throw off to build out adjacent businesses — a strategy similar to the Comcast cable network spinoff Versant.
Shell is in talks with Gerry Cardinale’s RedBird Capital Partners to fund the new venture, though the size of the commitment could not be immediately learned. It is not expected to launch until the first or second quarter of 2027 after Shell’s noncompete with Paramount expires in April.
Representatives for Shell and RedBird did not immediately return TheWrap’s request for comment. Puck was the first to report the news.
Shell’s latest venture comes after he exited his role as the president and a board member of David Ellison’s Paramount Skydance in April.
The departure, which was his second from a media company in three years, came after Shell was sued by whistleblower and Las Vegas gambler R.J. Cipriani.
Cipriani had accused Shell of failing to pay him for crisis communications services and leaking material, non-public information to him, including details about Paramount’s $7.7 billion UFC media rights deal and the company’s plans at the time to sweeten its bid to acquire Warner Bros. Discovery.
An internal investigation into Cipriani’s claims conducted by Paramount at the time found that the allegations did not establish a securities law violation. They added that Shell was “taking forceful legal election” and elected to transition out of his role.
The post Jeff Shell to Launch Linear TV-Focused Investment Vehicle appeared first on TheWrap.
