Analysis-David Ellison’s Appointment of Kreiz Brings Cost-Cutter to Paramount-Warner Bros Discovery
Ellison said Kreiz will handle operations and merger integration while he focuses on creative strategy and technology at the combined media company.
- Following a federal judge's approval of an antitrust settlement, David Ellison announced Ynon Kreiz as Co-CEO of the $111 billion Paramount Skydance Corporation, effective at closing.
- Kreiz departed his role at Mattel, where he transformed the toy maker into an entertainment studio; Mattel's Barbie movie grossed over $1.4 billion globally in 2023 under his leadership.
- Under the division of labor, Ellison oversees creative and tech strategy while Kreiz manages day-to-day operations. Ellison called Kreiz a 'proven builder and operator,' saying there is 'nobody I'd rather have standing next to me.'
- The merger aims to create a 'next-generation global media company' that is 'creator-first, tech-forward and built to scale globally,' Ellison said Wednesday, calling it a 'transformational moment for our industry.'
- Mattel faces financial headwinds since Kreiz's exit, with shares down over 24% in the past 12 months. This summer's 'Masters of the Universe' film fell short of expectations, complicating the toymaker's entertainment strategy.
20 Articles
20 Articles
Ynon Kreiz, as Co-CEO of Paramount, to Receive Pay Package Worth More Than $46.5 Million
Ynon Kreiz, as David Ellison’s right-hand man at the merged Paramount-Warner Bros. Discovery, is getting a big pay bump over his pay package as CEO of Mattel. Kreiz, 61, signed an initial five-year employment contract with Paramount. He starts Oct. 5, one day before Paramount is set to close its $111 billion merger with Warner […]
Analysis-David Ellison’s appointment of Kreiz brings cost-cutter to Paramount-Warner Bros Discovery
By Deborah Mary Sophia and Neil J Kanatt Oct 1 (Reuters) - David Ellison's choice of Mattel CEO Ynon Kreiz as his co-captain at the new Paramount-Warner Bros Discovery signals what the media behemoth will care about most: running a lean, cost-efficient...
Paramount’s new co-CEO once hired a barista he met at a cafe with no resume. His advice to Gen Z: ‘Look up and make eye contact'
Billionaire-heir David Ellison tapped Mattel’s Ynon Kreiz as his No. 2 at Paramount after decades of betting on unconventional ideas, including Barbie and a barista.
David Ellison Picks Mattel Veteran Ynon Kreiz as Co-CEO to Steer Paramount-Warner Bros. Behemoth
David Ellison has named former Mattel CEO Ynon Kreiz as co-CEO of the combined Paramount and Warner Bros. Discovery entity set to form next week. Kreiz will handle operations and integration while Ellison focuses on strategy and creative direction. The move follows immediate court approval of the $111 billion merger settlement.
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