The new and huger Paramount has a new co-CEO

Paramount is appointing Mattel chairman and CEO Ynon Kreiz as co-CEO before its planned $110B merger with Warner Bros. Discovery closes. David Ellison will focus on long-term strategy, creative direction, partnerships, technology, and capital allocation, while Kreiz will handle day-to-day management and integration of the combined company.

The split leadership structure signals that Paramount expects a complex post-merger integration requiring dedicated operational oversight. Bringing in Kreiz suggests the enlarged company may prioritize franchise management and consumer-products expertise as studios seek more ways to monetize IP beyond film and TV.