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The new and huger Paramount has a new co-CEO
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Paramount is appointing Ynon Kreiz as co-chief executive ahead of the close of its $110 billion merger with Warner Bros. Discovery. The former Mattel chairman and CEO will help lead the enlarged company alongside Paramount chairman and CEO David Ellison. Kreiz’s first day at Paramount is October 5.
Under the arrangement, Ellison will oversee long-term strategy, creative vision and direction, talent relationships, strategic partnerships, technology and capital allocation. Kreiz will focus on day-to-day management and integration of the combined businesses. The combined company will report jointly to Ellison and Kreiz.
Kreiz joined Mattel in 2018 and led the toy maker when it launched the hit Barbie film with Warner Bros. Pictures. The partnership links his prior tenure to one company in the proposed combination. He arrives as Paramount prepares to integrate a much larger media group.
A judge also approved Paramount’s recently announced settlement with several states that had been blocking the Warner Bros. Discovery merger. Reuters reported the ruling, clearing a stated obstacle to completion. The decision is significant as Paramount prepares to combine two major media businesses under a new leadership structure.
The transition is also affecting streaming leadership. On Tuesday, Paramount streaming chief Cindy Holland announced that she would step down. Variety reported that HBO boss Casey Bloys is “poised” to take over both Paramount Plus and HBO. Such a move would place two prominent streaming services under one executive.
The co-CEO model separates strategic oversight from daily management and merger integration. Ellison will retain responsibility for creative and corporate priorities, while Kreiz focuses on combining operations. Kreiz’s October 5 arrival and any final streaming appointments will test whether the new leadership arrangement can coordinate the transition.
