Taylor Sheridan Leaves Paramount for NBCUniversal in Landmark 5-Year Deal

When Taylor Sheridan walked away from Paramount last week, he didn’t just change studios—he shifted the balance of power in Hollywood. The creator of Yellowstone and its sprawling cinematic universe has signed a staggering five-year overall deal with NBCUniversal, confirmed by The Hollywood Reporter on October 27, 2025. The deal isn’t immediate: Sheridan’s TV contract with Paramount runs through December 31, 2028, but starting January 1, 2029, his film work begins under NBCUniversal’s roof—and his television projects will follow shortly after. The twist? He’s leaving behind everything he built… but taking his creative fire with him.

The Yellowstone Empire Stays Behind

Paramount won’t lose Yellowstone, 1883, 1923, Tulsa King, or Mayor of Kingstown. Those shows—and every dollar they’ve pulled in—are locked down as intellectual property owned outright by Paramount. That means Paramount+ will keep streaming them for years, even as Sheridan moves on. The studio still owns the characters, the ranches, the horseback chases, and the dramatic monologues. But it doesn’t own Sheridan anymore. And that’s the real loss.

His departure isn’t just about one showrunner. It’s about the gravitational pull he had on A-list talent. Kevin Costner signed on for Yellowstone when few believed a Western could dominate modern TV. Harrison Ford joined 1923 for a role that felt like a return to form. Even Sylvester Stallone, long retired from leading man roles, came back for Tulsa King. These weren’t just hires—they were endorsements. And now, those relationships go with Sheridan to NBCUniversal.

Glazer and 101 Studios Follow

Sheridan didn’t leave alone. His producing partner, David Glazer, and his company 101 Studios are also making the jump. Glazer’s first-look deal with NBCUniversal kicks off in early 2026, after 101 Studios wraps up its final obligations to Paramount. That’s not a coincidence. This is a full ecosystem relocation. Glazer has been behind the scenes on every major Sheridan project since Yellowstone’s first season—handling logistics, budgets, casting, and the kind of gritty, practical production that made these shows feel real. Without him, Sheridan’s vision might have stumbled. Together, they’re a package deal NBCUniversal couldn’t afford to miss.

Paramount’s Strategic Pivot

The timing speaks volumes. Sheridan’s exit came just weeks after Paramount completed its $8 billion merger with Skydance—and immediately after announcing a $7.7 billion, seven-year exclusive deal with TKO Group for UFC rights. Starting in 2026, Paramount+ will stream 13 major UFC events and 30 Fight Nights annually, all free to subscribers. That’s more than double what ESPN paid before. And it’s all live. No pay-per-view. No middlemen.

That’s a bold bet. But it’s also a signal: Paramount’s new leadership, led by Chair of Direct-to-Consumer Cindy Holland, is betting on sports, not storytelling. Holland publicly praised Sheridan’s "universe" as foundational to Paramount+—but actions speak louder than press releases. Reports suggest internal pressure to cut budgets on Sheridan’s upcoming projects: Mayor of Kingstown Season 4 was nearly shelved, and the long-gestating 6666 Ranch spinoff has been frozen. Even his passion project, an adaptation of Empire of the Summer Moon—a harrowing true story of Comanche resistance—was reportedly deemed "too expensive" for a streaming platform trying to chase live sports viewers.

Why NBCUniversal Won

NBCUniversal isn’t just buying a showrunner. It’s buying a brand. The studio, under Donna Langley, has been quietly assembling a powerhouse of creators: Christopher Nolan, Shonda Rhimes, and now Sheridan. Each deal is a statement: we don’t just want content—we want legacy. And Sheridan’s work isn’t just popular. It’s culturally embedded. Yellowstone has become a modern myth, watched by farmers in Montana and executives in Manhattan alike. NBCUniversal doesn’t need to reinvent the wheel. It just needs to give Sheridan the freedom to build the next one.

Unlike Paramount, which now sees its future in fight cards and live events, NBCUniversal is doubling down on narrative. And Sheridan’s new deal gives him full creative control over original IP—no franchises, no spinoffs, no legacy baggage. He can start fresh. A Western epic? A political thriller? A family saga set in the Gulf Coast? The possibilities are wide open. And with NBCUniversal’s global reach—Peacock, Universal Pictures, Syfy, Bravo—he’ll have more platforms than ever to tell those stories.

What This Means for TV

This isn’t just a studio switch. It’s a turning point in the streaming wars. For years, studios chased big-name actors. Now, they’re chasing the people who make those actors want to show up. Sheridan didn’t just write scripts—he built worlds. And those worlds drew audiences in droves. When Yellowstone premiered in 2018, no one thought a Western could dominate cable TV. Now, it’s the most-watched drama on basic cable since Game of Thrones. That’s the kind of power NBCUniversal just acquired.

Paramount’s gamble on UFC might pay off in subscriber numbers—but it won’t build loyalty the way storytelling does. Sports are fleeting. A great show becomes part of your life. And Sheridan’s shows? They’re becoming part of American culture.

For now, Paramount+ will keep airing Yellowstone reruns. But the next chapter? That’s going to be on Peacock.