Paramount has set the base salaries for its new C-suite on the heels of Skydance closing its $8 billion acquisition of the media giant.
David Ellison, founder of Skydance and now CEO of Paramount, will receive a base salary of $3.5 million, as will Paramount president Jeff Shell, according to financial documents filed with the Securities and Exchange Commission Thursday. They will each be entitled to an annual bonus targeted at $1.5 million each. Also as part of Ellison’s compensation package, the CEO will receive company-paid personal security services.
Chief strategy officer and chief operating officer Andy Gordon has had his base salary set at $2.8 million with a targeted $1.2 million annual bonus.
Additionally, the merged company reported it will be giving Paramount Global’s now-exited co-CEOs Chris McCarthy and Brian Robbins payouts of approximately $18 million each.
McCarthy will receive $18.3 million while Robbins will be given $18.6 million, both payouts that will come in addition to the execs’ 2025 salaries. (In 2024, McCarthy’s salary at Paramount was $19.5 million; Robbins’ was $19.6 million).
Meanwhile, McCarthy and Robbins’ fellow Paramount Global co-CEO George Cheeks will remain at Paramount under Skydance ownership (therefore not receiving a severance deal), but has transitioned to the role of chair of TV media.
Upon the close of the deal, Shari Redstone’s National Amusements Inc. received $1.75 billion in cash in exchange for it stake in Paramount Global. (Redstone, who has now exited Paramount’s board, owns 20% of NAI and the remainder is held in a family trust of which Sumner Redstone’s grandchildren are the beneficiaries.)
Paramount began trading on the Nasdaq stock exchange under the new “PSKY” ticker symbol Thursday. While a public company, as Paramount Global was, Paramount will be controlled by the Ellison family.
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