David Ellison has appointed outgoing Mattel chief executive Ynon Kreiz as co-chief executive of the anticipated combination of Paramount and Warner Bros. Discovery.
The pair will lead the combined media company as “one team”, with Mr Kreiz responsible for its day-to-day management and the integration of the two businesses.
Mr Ellison, chief executive of Paramount Skydance, will oversee the long-term strategy, creative vision and direction of the company. His responsibilities will also include talent relationships, strategic partnerships, technology and capital allocation.
“Bringing together Paramount and Warner Bros. Discovery to create a next-generation global media company is a transformational moment for our industry,” Mr Ellison said. “Leading it takes a rare combination of strategic vision, operational depth and experience running a public company at the highest levels of media. Ynon brings all three.”
Paramount and Warner Bros. Discovery merger
The appointment comes less than two weeks after Paramount settled an antitrust lawsuit brought by a group of state attorneys general seeking to block the 110 billion dollar merger.
A federal judge entered an order on Wednesday allowing the merger to close.
Earlier on Wednesday, Mattel announced that Mr Kreiz was leaving the company after eight years as chief executive. During his tenure, he led major transformations at the toy maker and oversaw the release of Barbie, the highest-grossing domestic film release of 2023.
