Ynon Kreiz named co-CEO of Skydance as Paramount and Warner Bros. Discovery merge

David Ellison has named Ynon Kreiz, the outgoing CEO of Mattel, as coCEO of the combined Paramount Skydance and Warner Bros. Discovery business, which will be called Skydance once the merger closes. The appointment is meant to help answer questions about how Ellison will manage the new media company after years of aggressive dealmaking. Kreiz brings decades of experience in media and entertainment, including leadership roles at Mattel, Maker Studios, Endemol Group and Fox Kids Group Europe. Analysts say his background in restructuring companies and building intellectual property could be useful as the merged company tries to integrate major film studios, streaming platforms and TV networks. The new company faces a difficult task: achieving about $6 billion in planned cost savings while carrying roughly $79 billion in debt. Ellison is expected to focus on longterm strategy, creative direction, technology and capital allocation, while Kreiz will handle daytoday operations and merger integration.