- Ynon Kreiz has been named co-CEO of the combined Paramount-Warner Bros. Discovery by chairman and CEO David Ellison, with the announcement made on Wednesday.
- Kreiz will officially start his role on October 5, 2026, and will also join the company's board of directors.
- The merger between Paramount and Warner Bros. Discovery is expected to close on October 6, 2026.
- Mattel announced that Kreiz will be departing as CEO effective October 2 to take a senior leadership position at another public company.
- A federal judge approved the merger between Paramount and Warner Bros. Discovery, clearing the final antitrust hurdle.
David Ellison has named Ynon Kreiz, the outgoing CEO of Mattel, as co-CEO of the newly merged Paramount-Warner Bros. Discovery, effective October 5, 2026. This appointment comes just before the merger's anticipated closure on October 6, following a federal judge's approval of the deal.12345
Kreiz will manage the day-to-day operations of the combined entity, while Ellison will concentrate on long-term strategy and creative vision. Paramount described the pairing as a “transformational moment for our industry,” emphasizing the need for a blend of strategic vision and operational expertise.
Kreiz, who has been at the helm of Mattel since 2018, is credited with revitalizing the brand, particularly through the success of the “Barbie” movie, which grossed over $1 billion at the box office. His leadership at Mattel transformed the company from a toy manufacturer into a significant player in entertainment.
The merger, valued at $111 billion, is one of the largest in media history and aims to create a next-generation global media company. Kreiz's extensive background includes leadership roles at Maker Studios and Endemol Group, making him a fitting choice for this ambitious venture.
“Bringing together Paramount and Warner Bros. Discovery to create a next-generation global media company is a transformational moment for our industry,” said Ellison, highlighting Kreiz's qualifications for the role.
The two executives will work closely, with Kreiz also joining the board of directors, as they navigate the integration of the two companies' operations and strategies.
“Kreiz will oversee day-to-day operations and integration while Ellison leads strategy, creative, and technology, with both reporting jointly. The appointment follows a federal judge's approval of the $111 billion merger, clearing the final antitrust hurdle after a lawsuit by 12 state attorneys general.”
Variety
cnbc.com
