David Ellison, chief executive of Skydance, announced the appointment of Ynon Kreiz to serve as co-CEO of the merged entity comprising Paramount and Warner Bros. Discovery. Kreiz, who is departing Mattel after eight years leading the toy manufacturer, will assume the operational leadership role effective upon the merger’s completion. The two executives will operate collaboratively, with Ellison directing long-term strategy, creative matters, talent oversight, and technology decisions, while Kreiz manages daily operations and oversees the integration of the combined organization.
The leadership announcement followed significant regulatory progress on the proposed transaction. Earlier in the day, a federal judge issued an order permitting the merger to proceed, and Paramount subsequently disclosed that the deal would close on Oct. 6. This clearance came nearly two weeks after Paramount resolved an antitrust dispute with a coalition of state attorneys general who had challenged the $110 billion transaction.
Kreiz’s departure from Mattel concludes a tenure marked by substantial organizational changes and strategic initiatives. Most notably, his leadership encompassed the production oversight that resulted in the release of “Barbie,” which achieved the highest domestic box office performance in 2023. The merger between Paramount and Warner Bros. Discovery represents one of the most significant consolidations in media industry history, culminating an extended negotiation process during which Ellison competed against Netflix for control of the combined enterprise.
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