David Ellison has been named co-CEO of the new company formed by merging Paramount and Warner Bros. Discovery (WBD), alongside Ynon Kreiz, who was previously the CEO of Mattel. This change will take effect on October 5. Ellison has been leading Paramount alone since its merger with Skydance last year. In their new roles, Ellison will focus on creative and technology strategies, while Kreiz will handle daily operations and help integrate the two companies. Kreiz, who led Mattel since 2018, aimed to transform it into a major entertainment company, achieving success with the "Barbie" movie but facing setbacks with the "Masters of the Universe" film. He is being replaced at Mattel by Roger Lynch. The merger between Paramount and WBD, valued at $110 billion, has been complicated by competing offers and legal challenges from various states and Hollywood writers.
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