Paramount Streaming Veteran Jeff Shultz Jumps to Radial Entertainment as CEO in Major Indie Power Play

The Shuffleboard of Streaming: A Billion-Dollar Brain Moves On

In the modern media industry, the only thing that moves faster than a viral TikTok dance is a high-profile executive looking for a new kingdom to rule. This week, we got the official confirmation of a major power shift: Jeff Shultz, the former Chief Strategy Officer and Chief Business Development Officer for Paramount Streaming (the guy who basically helped write the playbook for modern free, ad-supported television), has been named the new Chief Executive Officer (CEO) of Radial Entertainment.

This isn't just a personnel change; it’s a calculated, strategic move by Radial's parent company, the private equity titan Oaktree Capital Management, to put a certified FAST (Free Ad-Supported Streaming Television) pioneer at the helm of their burgeoning content distribution giant. Shultz, who exited Paramount in late 2024 ahead of the impending Skydance acquisition, will take control starting January 1, 2026.

The message is clear: The independent content market is serious about competing with the legacy players, and they’ve just acquired one of the streaming industry's sharpest strategists to lead the charge.

From Pluto to Profit: Shultz’s Paramount Legacy

To understand why this move is so significant, you have to look at Shultz's resume, which reads like a history of the FAST revolution.

Shultz was a critical figure at Pluto TV, joining the free-streaming startup early in its journey. He was instrumental as Chief Business Officer in guiding the company from a nascent concept to a full-blown phenomenon. When Viacom (now Paramount Global) acquired Pluto TV in 2019, Shultz stayed on, becoming a cornerstone of the entire Paramount streaming infrastructure.

His tenure at Paramount saw him overseeing the direct-to-consumer strategy and partnership portfolio across both the pioneering Pluto TV and the premium subscription service Paramount+. His efforts helped transform Pluto TV into a billion-dollar global market leader and contributed to the exponential growth of Paramount’s overall streaming revenue. He wasn’t just signing checks; he was engineering major deals, like the groundbreaking partnership with Delta Air Lines to give travelers free Wi-Fi and Paramount+ access, and the innovative Verizon+Play bundle that combined Paramount+ with Showtime and Netflix.

Shultz left Paramount in October 2024, amidst the turbulence of the company's planned sale, but his legacy there is undeniable: he proved that "free" streaming was a viable, profitable powerhouse. Now, he's taking that proven blueprint to the independent sector.

Radial Entertainment itself is a relatively new player, born in the summer of 2025 from a strategically engineered merger. Oaktree Capital Management acquired the streaming content distributor FilmRise and merged it with their existing portfolio company, the beloved cult media and TV distributor Shout! Studios.

The result is Radial, a global content distribution platform that instantly commands a massive and varied catalog of over 70,000 movies and TV episodes. This library is the company's real weapon, featuring fan favorites and high-demand content like Unsolved Mysteries, Forensic Files, Hell's Kitchen, and Mystery Science Theater 3000. Radial has also aggressively expanded its library with recent acquisitions, including the rights to the Emmy-winning late-night talk show Conan and the horror series Hemlock Grove.

The hiring of Shultz is a clear signal that Radial intends to fully monetize this vast library by aggressively competing in the FAST and global distribution markets. Oaktree’s strategy is simple: marry a huge, diverse content library with a proven streaming architect, and watch the revenue pile up.

The Changing of the Guard

With Shultz's arrival, Garson Foos, the co-founder of Shout! Studios who had been serving as Radial’s initial CEO during the merger transition, will move into the role of Executive Chairman on the Radial Entertainment board, alongside FilmRise co-founder Danny Fisher.

This transition is being presented as a perfectly executed relay race. Jared Frandle, Managing Director for Oaktree’s Special Situations strategy, was quick to praise Foos for his leadership in unifying the two companies and laying a strong strategic foundation. He then articulated the rationale for bringing in Shultz:

“We are now thrilled to welcome Jeff—a highly seasoned veteran of the streaming industry and a uniquely qualified media executive—to lead Radial into this next chapter.”

In his own statement, Shultz emphasized his focus on scale and independence: “I am fully aligned with Garson, Danny, and the Oaktree team on a shared vision to build Radial into one of the most valuable independent players in the global streaming market.” He noted that Radial is "uniquely positioned" to seize opportunity in the "rapidly evolving media market," thanks to its financial scale, compelling catalog, and expansive distribution.

In short, the indie sector has put an industry heavyweight in the corner office. Shultz's mission: to weaponize 70,000 titles and take on the monolithic studios who are struggling to make sense of the streaming chess board he helped create. It’s a fascinating new chapter for the FAST world, and the game has just begun.