CNBC's David Faber sits down with Paramount Skydance chairman and CEO David Ellison to discuss the company's relationship with the NFL, Taylor Sheridan, plans for CBS News, and much more.

Paramount Skydance's CEO confirmed the company's strong relationship with the NFL, noting that the NFL is now an investor in Paramount through a joint venture with Skydance Sports. While the NFL retains the option to exit the current deal, the CEO expressed confidence in the partnership continuing for the foreseeable future. The exclusive content deal with creator Taylor Sheridan was also highlighted, with the CEO aiming to keep Sheridan at Paramount as long as possible.

Addressing recent criticism from an FCC commissioner regarding CBS News, the CEO rejected claims of government oversight, clarifying that the ombudsman role is intended for transparency and feedback, not censorship. The CEO emphasized Paramount's commitment to independent journalism and stated that the company does not intend to politicize its content, focusing instead on entertaining and inspiring a broad audience.

Paramount Skydance CEO on NFL deal

You mentioned two things I want to ask questions about both. One is the NFL. My understanding has been, and I know this, there was a change in control provision at CBS in terms of the ownership there that the NFL could come to you and say, hey, we're going to get out of the deal unless you give us more. My understanding is you have reached a deal with the NFL. I don't know what you're paying them. Is that is that correct? You have reached a deal. And can you tell us what it cost you? So what I would say is we we have a great relationship with the NFL. And you know, just to give a little bit of history that I'm not sure everyone realizes is, you know, the NFL is actually now an investor in Paramount, right, through our joint venture with Skydance Sports. I was incredibly grateful to everything the commissioner obviously said at Sun Valley when, in all of the feedback we've gotten from ownerships about the importance of our partnership. I want to be clear, though, they still do have an out, but it's not something that we're worried about. Well, have you negotiated it yet? Is it over and done with? We've not had that conversation with the NFL. What I can tell you, though, is that we're both committed to being partners for the foreseeable future. And as we get there as a publicly traded company, you know, we obviously can't disclose that till we get there. Understood. It's such an important component, though, as you say, of your overall content. The deal ends in twenty nine, I think, the current deal with the NFL. So there's so everybody has an out and basically, you know, we'll obviously deal with that when the NFL is ready to talk. Do you think you're going to have the financial wherewithal to keep the NFL for the for the for the foreseeable future? We believe we're going to be in business with the NFL for the foreseeable future. Yes. And what about Taylor Sheridan? He's such an important part of Paramount Plus in terms of so many shows that he's created for you. You know, my understanding is he may have the opportunity to go elsewhere should he decide to do that, finish up everything he owes to you. Is that a risk for you guys? Have you spoken to Mr. Sheridan about his future plans? So I have a really good relationship with Taylor, and I think he is literally a singular genius and content creator. I mean, when you look at him, he literally has a perfect track record. And so from that standpoint, I'm thrilled that, you know, we have an exclusive deal with him through 2028. And my goal is to have Taylor call Paramount his home for as long as he wants to be telling stories. And CBS, CBS News. It was just. Oh, sorry. Please. No. What were you going to say? No, no, no. After you, please. OK, good. All right. We're going to move on to CBS News for a second, because it was interesting to note yesterday, the first three or more questions from your press availability were all about CBS News. Let me let me get your response to this. Commissioner Gomez on the FCC put a press release out yesterday in which she said CBS now has a government-sanctioned truth arbiter. Their role will be to ensure that journalists at CBS do not criticize this administration or express views that conflict with its agenda. I'd love you to respond to that criticism from the FCC commissioner. So that's just very respectfully not, but to the commissioner, just the very opposite of accurate. I mean, when it comes to news and one of the things I'm truly dedicated towards is being in the truth business and being in the trust business. I think when you think about the legacy of CBS News and 60 Minutes, the home of Walter Cronkite, it is a storied legacy that we intend to honor and carry forward. And you know, and also when you think about the ombudsman, that's which was obviously what she's referring to there. Yes. Yes. So. So by the way, it is not that it is a vehicle for transparency, not oversight. And it basically is a way for both external and internally for people to provide feedback. And then that gets reported up to the president of Paramount, Jeff Schell. It doesn't get reported anywhere else. Is it a distraction? I mean, interesting to note, you announced your new big deal. It's the first few questions yesterday. Is it a political liability? Is it going to take up way too much of your time, given its importance to the company overall? I'm talking CBS News here specifically. Look, what I would say from that standpoint is I think we've been really clear in terms of our dedication to news and independent journalism. But what I will also say, and look, I think this is important and this is just I'll talk to me personally. Our number one job is to entertain and inspire audiences around the world. And with respect, I don't believe that that means that they want us to inject politics into everything we do. I actually think they want the opposite. And so from that standpoint, we just believe that if you're breathing, you're our audience and we don't intend to politicize the company. Did you see that first episode of South Park, season 27? I mean, did that send shivers down your spine? They came after the president pretty hard. Look, Matt and Trey are singular content creators. And I think over the 27 seasons of South Park, I think they proved that they're pretty good equal opportunity offenders. Yeah, no, without a doubt.

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Breakdown