Ynon Kreiz to become Co-CEO of the newly merged Skydance, combining Paramount and Warner Bros. Discovery

Ynon Kreiz, formerly CEO of Mattel, will join Paramount Skydance as co-CEO when its merger with Warner Bros. Discovery closes on Tuesday, October 6, 2026. The combined entity will be named Skydance. David Ellison will focus on long-range strategy, creative direction, technology, and capital deployment, while Kreiz will manage day-to-day operations and integration. The merger is valued at approximately $110 billion enterprise-value and plans to cut $6 billion in costs within three years, carrying roughly $79 billion in debt.