The Mattel chief will oversee operations and integration if the merger closes, while David Ellison will retain responsibility for strategy, creative direction, and technology.
Paramount Skydance has announced Ynon Kreiz as Co-CEO of its anticipated combined business with Warner Bros. Discovery, effective when the merger closes. Kreiz is due to join Paramount on October 5, 2026, ahead of taking up the proposed role and joining the combined company’s board.
The appointment sets out how leadership would be divided across a portfolio spanning film studios, television networks, streaming services and games. David Ellison will remain Chairman and CEO, leading long-term strategy, creative direction, talent relationships, technology and capital allocation. Kreiz will handle day-to-day management and integration, with the businesses reporting jointly to both executives.
Kreiz joins from Mattel, where he has served as Chairman and CEO since 2018. His tenure included the company’s expansion into film, digital games and live experiences, alongside the release of Barbie in 2023. His previous roles include leading Maker Studios and Endemol Group.
Kreiz said:
The industry is at an inflection point, demanding evolution, investment, and a willingness to rethink business models.
If completed, the merger would bring Paramount+, HBO Max and Pluto TV into the same corporate portfolio, alongside brands including Paramount Pictures, Warner Bros. Pictures, CBS, CNN, MTV and Nickelodeon. Paramount says the combined business is expected to reach more than 200 million global streaming subscribers and generate over $6 billion in annual run-rate synergies. Both figures are projections.
The proposed company’s stated priorities include content investment, greater technological capability and operational efficiency. Those ambitions leave a practical question for its incoming leadership: how to integrate the infrastructure and operations while preserving the creative relationships that feed the platforms.
The merger remains subject to closing conditions, including regulatory clearances. Kreiz’s appointment establishes the intended management structure; the work of combining the businesses still lies ahead.