Former NBCUniversal Chief in Talks to Join Private-Equity Firm RedBird Capital Partners

Former NBCUniversal Chief Executive Jeff Shell is in advanced talks to join private-equity firm RedBird Capital Partners, leading its sports and entertainment investment business.

A formal announcement about Shell’s appointment is expected in the first quarter of next year. A spokesperson for RedBird confirmed the negotiations.

RedBird has expanded its media holdings in recent years and owns stakes in the production companies Skydance Media and Artists Equity, the studio launched by Ben Affleck and Matt Damon. It also has partnerships with several sports leagues including the NFL and ownership positions in regional sports networks including YES, the television home of the New York Yankees.

Shell departed Comcast’s NBCUniversal last April after an investigation into a complaint of inappropriate conduct. Shell said at the time that he had an “inappropriate relationship” with a colleague and apologized.

Shell had been serving as an informal consultant to RedBird before entertaining talks to take a permanent position, people familiar with the matter said. He has a more than two decade relationship with RedBird Capital founder and managing partner Gerry Cardinale.

The post Shell is taking is similar to the one Cardinale discussed with Bob Iger before he opted to return to Disney as CEO.

Other RedBird investments include Hidden Pigeon, a kids and family content company whose partners include children’s book author Mo Willems and EverPass Media, a firm that distributes NFL games to bars, restaurants and hotels.

Before his departure as chief executive of NBCUniversal, Shell was one of the media industry’s most prominent executives. He held senior roles at Comcast and NBCU including heading the Universal Pictures movie studio and international operations. Before joining Comcast in 2005, Shell held positions at Disney and Fox.

At NBCUniversal, Shell was an early advocate of releasing movies on the company’s Peacock streaming platform at the same time or soon after their theatrical release. He often dove into the minutia of the movie and television business.

Shell is the second former senior NBCU executive to land at RedBird. Jeff Zucker, who previously was also a CEO of NBCU, and more recently ran CNN, now heads RedBird IMI, a partnership between the private-equity firm and International Media Investments, an Abu Dhabi-based media holding company.

Write to Joe Flint at [email protected]