From Adweek · Bill Bradley · · 1m 10s
Paramount-WBD Mergers Add Co-CEO
Paramount CEO David Ellison appoints Ynon Kreiz as co-CEO for merged company.
In brief
Paramount CEO David Ellison appoints Ynon Kreiz as co-CEO for merged company. Paramount and Warner Bros. Discovery merge, with David Ellison and Ynon Kreiz co-leading the combined entity. Originally reported by Adweek.
Merged Company Announces Co-CEO
Paramount and Warner Bros. Discovery may complete their $110 billion merger, with David Ellison appointing Ynon Kreiz as co-CEO effective at closing.
Ynon Kreiz Joins as Co-CEO
Ynon Kreiz, who stepped down as Mattel CEO after eight years, will start at Paramount on October fifth, focusing on day-to-day management.
David Ellison's Role
David Ellison will remain chairman and CEO, focusing on long-term strategy, talent relationships, strategic partnerships, technology, and capital allocation.
Kreiz's Focus Areas
Ynon Kreiz will handle day-to-day management, including business transformation and brand-centric strategy from his previous role at Mattel.
Ellison's Statement
Ellison stated that combining Paramount and Warner Bros. Discovery creates a next-generation global media company requiring strategic vision, operational depth, and public company experience.
Netflix Comparison
The co-CEO strategy mirrors Netflix's dual CEO structure, which was previously in line to merge with WBD before its deal collapsed.
The short version
Paramount and Warner Bros. Discovery merge, with David Ellison and Ynon Kreiz co-leading the combined entity.
