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● LIVE Updated 59m ago · 15 sources tracked

Ynon Kreiz Named Co-CEO Of Paramount Alongside David Ellison

David Ellison has appointed Mattel CEO Ynon Kreiz as co-CEO of the merged Paramount and Warner Bros. Discovery entity, which will be named Skydance. Kreiz will manage day-to-day operations alongside Ellison at the 110 billion dollar studio. The merger is scheduled to close on 06 October, following U.S. regulatory approvals and a modified court order. Kreiz is stepping down from his role at Mattel to join the new firm, where he will receive a pay package valued at more than 46.5 million dollars.

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  • ✓ Ynon Kreiz will serve as co-CEO of the combined Paramount and Warner Bros. Discovery company alongside David Ellison.
  • ✓ The merged company will be named Skydance, with Paramount and Warner Bros. remaining as sub-brands.
  • ✓ The merger is valued at 110 billion dollars.
  • ✓ The deal is scheduled to close on 06 October.
🛡️ Source Corroboration: 15 independent reporting domains (95% confidence) ⏱ Read time: ~3 min

What changed

Paramount announced Ynon Kreiz as co-CEO and confirmed the merger closing date of 06 October.

Live updates

  1. Ynon Kreiz Named Co-CEO of Paramount-Warner Bros. Merger

    David Ellison has appointed Mattel CEO Ynon Kreiz as co-CEO of the merged Paramount and Warner Bros. Discovery entity, which will be named Skydance. Kreiz will manage day-to-day operations alongside Ellison at the 110 billion dollar studio. The merger is scheduled to close on 06 October, following U.S. regulatory approvals and a modified court order. Kreiz is stepping down from his role at Mattel to join the new firm, where he will receive a pay package valued at more than 46.5 million dollars.

    Why it matters

    The merger combines two major media giants into a single corporate brand while maintaining Paramount and Warner Bros. as sub-brands. The new entity faces significant debt and must adhere to a consent decree with 12 U.S. states regarding streaming and film release quotas. A settlement with the Writers Guild also dictates future content production structures.

    What is confirmed

    • Ynon Kreiz will serve as co-CEO of the combined Paramount and Warner Bros. Discovery company alongside David Ellison.
    • The merged company will be named Skydance, with Paramount and Warner Bros. remaining as sub-brands.
    • The merger is valued at 110 billion dollars.
    • The deal is scheduled to close on 06 October.
    • Ynon Kreiz will receive a pay package worth more than 46.5 million dollars.
    • The company secured U.S. regulatory and legal approvals after a U.S. District Court modified a no-close order.
    • A consent decree with 12 U.S. states establishes rules for staff minimums, streaming obligations, and film release quotas.

    Still unconfirmed

    • Larry Ellison, rather than David Ellison, recruited Ynon Kreiz to reduce costs and jobs.

    What to watch next

    • The formal closing of the merger on 06 October
    • The implementation of the Writers Guild settlement regarding content production
    • Financial reports indicating if the new entity can manage its massive debt
    Sources used for this update (20)
    1. variety.com — David Ellison Recruits Mattel's Ynon Kreiz for Senior Role at Merged Paramount-Warner Bros.
    2. The Hollywood Reporter — Mattel CEO Ynon Kreiz Nears Deal to Join David Ellison’s Paramount-Warner Bros.
    3. Deadline — Ynon Kreiz Named Co-CEO Of Paramount; Will Run Mega-Studio With David Ellison
    4. cnbc.com — David Ellison names Ynon Kreiz co-CEO of Paramount and Warner Bros. Discovery
    5. Reuters — Mattel chief Kreiz to step down, join Paramount Skydance as co-CEO
    6. Financial Times — Paramount names Mattel boss co-CEO as it looks to close Warner Bros deal
    7. variety.com — Ynon Kreiz, as Co-CEO of Paramount, to Receive Pay Package Worth More Than $46.5 Million
    8. deadline.com — Ynon Kreiz Named Co-CEO Of Paramount Alongside David Ellison
    9. www.yahoo.com — Mattel’s Ynon Kreiz Named As Co-CEO of David Ellison’s Paramount-Warner Bros.
    10. finance.yahoo.com — Paramount Skydance (PSKY) Clears Merger Hurdles And Names Ynon Kreiz Co CEO
    11. variety.com — New Name of Paramount-Warner Bros. Unveiled: Skydance
    12. www.yahoo.com — It’s Skydance: David Ellison Brands Combined Paramount-Warner Bros. With His Studio’s Title
    confidence 95%
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