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● LIVE Updated 1h ago · 15 sources tracked

Ynon Kreiz, as Co-CEO of Paramount, to Receive Pay Package Worth More Than $46.5 Million

Departing Mattel Chief Executive Officer Ynon Kreiz has secured a five-year deal worth more than $46.5 million to serve as co-CEO of the newly combined company resulting from the merger of Paramount and Warner Bros. Discovery. Kreiz will lead the enterprise alongside David Ellison, receiving a $31.5 million signing bonus. The newly formed entity officially will be named Skydance, according to Ellison. The merger brings together major studio assets under leadership featuring Kreiz, who has a reputation as a cost-cutter.

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  • ✓ Ynon Kreiz will receive a pay package worth more than $46.5 million as co-CEO of Paramount.
  • ✓ Kreiz secured a five-year deal that includes a $31.5 million signing bonus.
  • ✓ David Ellison announced that the newly merged Paramount and Warner Bros. Discovery company will be named Skydance.
  • ✓ Ynon Kreiz departs his position as CEO of Mattel to take the new co-CEO role alongside David Ellison.
🛡️ Source Corroboration: 15 independent reporting domains (100% confidence) ⏱ Read time: ~2 min

What changed

Paramount revealed the specific compensation details and a five-year contract for incoming co-CEO Ynon Kreiz, including a $31.5 million signing bonus.

Live updates

  1. Ynon Kreiz Secures $46.5M Pay Package as Paramount Co-CEO

    Departing Mattel Chief Executive Officer Ynon Kreiz has secured a five-year deal worth more than $46.5 million to serve as co-CEO of the newly combined company resulting from the merger of Paramount and Warner Bros. Discovery. Kreiz will lead the enterprise alongside David Ellison, receiving a $31.5 million signing bonus. The newly formed entity officially will be named Skydance, according to Ellison. The merger brings together major studio assets under leadership featuring Kreiz, who has a reputation as a cost-cutter.

    Why it matters

    The appointment follows an extended period of dealmaking and a massive corporate consolidation involving Paramount and Warner Bros. Discovery. David Ellison tapped Kreiz to manage operations and serve as his right-hand man at the helm of the massive $110 billion merged company. Industry observers are monitoring leadership and operational shifts as the newly minted Skydance takes shape following the merger close.

    What is confirmed

    • Ynon Kreiz will receive a pay package worth more than $46.5 million as co-CEO of Paramount.
    • Kreiz secured a five-year deal that includes a $31.5 million signing bonus.
    • David Ellison announced that the newly merged Paramount and Warner Bros. Discovery company will be named Skydance.
    • Ynon Kreiz departs his position as CEO of Mattel to take the new co-CEO role alongside David Ellison.

    Still unconfirmed

    • Former Disney TV chairman was spotted dining with the new Paramount co-CEO amid executive shakeup reports.

    What to watch next

    • The official closing of the Paramount and Warner Bros. Discovery merger under the Skydance banner.
    • Further announcements regarding executive leadership and operational restructuring under co-CEOs David Ellison and Ynon Kreiz.
    Sources used for this update (20)
    1. The Hollywood Reporter — Mattel CEO Ynon Kreiz Nears Deal to Join David Ellison’s Paramount-Warner Bros.
    2. Yahoo Finance — Paramount poaches Mattel CEO to be co-CEO of new company merged with Warner Bros. Discovery
    3. CNN — Who is Ynon Kreiz, the new co-CEO of the combined Paramount-Warner Bro. company?
    4. nytimes.com — Mattel Chief Named Co-C.E.O. of Combined Paramount and Warner Bros.
    5. Variety — Ynon Kreiz, as Co-CEO of Paramount, to Receive Pay Package Worth More Than $46.5 Million
    6. deadline.com — Ynon Kreiz, Newly Minted Co-CEO Of Paramount, To Get Pay Bump After WBD Merger Close
    7. Reuters — David Ellison's appointment of Kreiz brings cost-cutter to Paramount-Warner Bros Discovery
    8. The Hollywood Reporter — Ynon Kreiz Gets $31.5 Million Signing Bonus In Five-Year Paramount-Warner Bros. Deal
    9. Ynetnews — Israeli Mattel chief Ynon Kreiz tapped to lead $110 billion Paramount-Warner Bros. merger
    10. The Times of Israel — Israeli-American Ynon Kreiz, a cost-cutter, tapped as co-CEO of Paramount-Warner Bros Discovery
    11. qz.com — Paramount named Mattel's departing CEO as co-CEO of its Warner Bros. Discovery merger
    12. qz.com — Ynon Kreiz signing bonus, pay details: Paramount co-CEO deal
    confidence 100%
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