Ynon Kreiz, former CEO of Mattel, was named co-CEO of the merged Paramount-Warner Bros. Discovery company, following a federal judge’s approval of the settlement on September 30, 2026, which cleared the way for the merger. The deal, which will close on October 5, 2026, marks a pivotal shift in the entertainment industry’s landscape, with Kreiz overseeing day-to-day operations and David Ellison focusing on strategy and creative direction.
The merger, which had faced legal challenges, received judicial approval on September 30, 2026, after a federal judge dismissed opposition from states. The combined entity’s board currently includes only Ellison and Kreiz, who will also be part of the group responsible for appointing members to the editorial independence board for CBS News and CNN.
Ynon Kreiz Co Ceo Paramount Warner Bros Merger
Mattel's CEO rebranded the company into an entertainment powerhouse, by using iconic IPs like Barbie to create global phenomena. The movie, distributed by Warner Bros., became the company’s highest-grossing film in its history, cementing Kreiz’s legacy at Mattel. However, the toy giant faced challenges in 2026, with Mattel shares dropping 4.24% on the day of the announcement and a 36% annual decline, while Barbie’s sales fell 16%.
Barbie Boss Ynon Kreiz Exits Mattel, Rumored For Top
Unresolved questions about the merger include the integration of WBD’s assets, including CNN and HBO, and the future of projects like the “Barbie 2” film. Warner Bros. faces a December deadline to secure Greta Gerwig, Margot Robbie, and Ryan Gosling for the sequel before the rights revert to Mattel. A Hot Wheels movie, directed by Jon M. Chu, is in development. Kreiz’s role in managing these projects, alongside his operational responsibilities, will be critical to the merged company’s success.
The merger’s success hinges on navigating these challenges, with Kreiz’s very senior role
signaling his central importance. As the combined company prepares for its launch, the focus will shift to execution, with industry observers closely watching whether Kreiz’s operational acumen and Ellison’s creative leadership can redefine media dominance.