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, but has now transitioned to the role of chair of TV media.
Paramount will remain publicly traded, as Paramount Global was, but the Ellison family will control the company. The company begins trading on the Nasdaq stock exchange under the new “PSKY” ticker symbol Thursday.
Shari Redstone (whose National Amusements Inc. owned 77% of the voting power in Paramount Global) received $1.75 billion in cash upon the deal’s close and has now exited the merged company’s board. (Shari Redstone owned 20% of NAI, with the remainder held in a Redstone family trust.)