Archive · 1 Oct 2026
Paramount Names Ynon Kreiz Co-CEO Ahead of Warner Merger
Paramount is preparing to combine with Warner Bros.
Discovery.
David Ellison, who leads Paramount Skydance, announced that Ynon Kreiz will become his co-CEO.
Ellison said Kreiz will help run daily operations and combine the two companies.
Ellison will focus more on creative and technology plans.
Kreiz previously led Mattel and helped guide its business transformation.
The merger is expected to close on October 6.
A judge approved a settlement that helped clear the way for the deal.
The new company will own several major studios, streaming services, television networks, and entertainment franchises.
David Ellison introduced former Mattel chief Ynon Kreiz as co-CEO of the combined company.
Kreiz will oversee day-to-day operations and deal integration, while Ellison leads creative and technology strategy.
Paramount expects its acquisition of Warner Bros. Discovery to close on October 6, pending final completion.
A federal judge approved a settlement addressing objections from 12 state attorneys general.
The merged company will combine major studios, Paramount+ and HBO Max, and entertainment brands including HBO, DC, and Nickelodeon.
- Who
- David Ellison and Ynon Kreiz will lead the combined company as co-CEOs; Warner Bros. Discovery and Paramount Skydance are the merging companies.
- What
- Paramount Skydance is preparing to complete its approximately $110 billion acquisition of Warner Bros. Discovery and appoint Kreiz as co-CEO.
- When
- The merger is expected to close on October 6; Kreiz’s co-CEO role will begin when the transaction closes.
- Where
- The deal involves the companies’ media and entertainment businesses; the lawsuit settlement was approved by a California federal judge.
- Why
- Ellison said their skills and experience complement each other, while the companies plan to integrate their operations and build a combined media business.
Supporters’ rationale
Reported concerns and challenges
Kreiz’s appointment
Supporters’ rationale
David Ellison described Ynon Kreiz as a proven builder and operator whose experience complements his own and supports the combined company’s creative mission.
Reported concerns and challenges
Kreiz’s previous Maker Studios operation later experienced layoffs, leadership turnover, and contract disputes with YouTube creators.
Post-merger management
Supporters’ rationale
The two-CEO structure is intended to divide responsibilities between creative and technology strategy and daily operations and integration.
Reported concerns and challenges
The combined company faces major integration work, anticipated executive departures, and a reported goal of eliminating $6 billion in expenses.
Merger safeguards
Supporters’ rationale
A settlement with 12 state attorneys general and approval from a California federal judge cleared the way for the transaction to close.
Reported concerns and challenges
The settlement requires commitments including at least 30 theatrical releases annually and an editorial independence board for CBS and CNN.
- Expected closing date
- October 6
- Reported transaction value
- Approximately $110 billion
- Ellison’s role
- Lead creative and technology strategy
- Kreiz’s role
- Oversee day-to-day operations and deal integration
- Merger settlement
- Paramount pledged to release at least 30 films annually in theaters and create an editorial independence board for CBS and CNN
- Other anticipated leadership
- Warner Bros. streaming chief Casey Bloys is expected to oversee streaming operations for Paramount and HBO Max
- Expected departure
- Warner Bros. Discovery CEO David Zaslav is expected to leave after the deal closes