Taylor Sheridan, the creator of the popular Paramount+ show Yellowstone (NASDAQ:PSKY), will leave David Ellison’s media company at the end of his contract term for a big film and TV deal at NBCUniversal (NASDAQ:CMCSA), according to media reports on Monday.
Sheridan’s new five-year deal for film, TV, and streaming will begin at the start of 2029 after his contract with Paramount ends, the reports suggested.
Sheridan’s departure comes amid the one-time layoffs that were announced by the new Paramount management earlier this month, which are expected to impact roughly 2,000 employees.
During an August press meeting with journalists in LA soon after Skydance bought Paramount, Ellison praised Sheridan for his role in keeping the company’s streaming service relevant.
“He is literally a singular genius with a perfect track record,” Ellison had then said. “If we can make this his home as long as he wants to tell stories, we want to do that.”