# David Ellison Names Ynon Kreiz as Co-CEO for Skydance

> David Ellison appoints Ynon Kreiz as co-CEO to lead Skydance's $110 billion merger of Paramount and Warner Bros. Discovery.
- Title: David Ellison Names Ynon Kreiz as Co-CEO for Skydance · CNBC
- Summary: David Ellison appoints Ynon Kreiz as co-CEO to lead Skydance's $110 billion merger of Paramount and Warner Bros. Discovery. David Ellison named Ynon Kreiz as…
- Keywords: david ellison, ynon kreiz, skydance, paramount, warner bros discovery, mattel, merger, cost savings, debt, barbie, film strategy, streaming services
- Source: CNBC — https://cnbc.com/2026/10/03/david-ellison-ynon-kreiz-skydance.html
- Author: Sarah Whitten
- Published: 2026-10-03T11:00:01+00:00
- Read time: 2 min
- Topics: david ellison, ynon kreiz, skydance, paramount, warner bros discovery, mattel, merger, cost savings, debt, barbie, film strategy, streaming services
## Who is Ynon Kreiz?
Ynon Kreiz, outgoing CEO of Mattel, will serve as co-CEO of the combined Paramount Skydance and Warner Bros. Discovery when the merger closes on Tuesday.
## Skydance's New Media Empire
The new entity will unite Paramount and Warner Bros. film studios, CBS broadcast network, pay-TV networks including CNN, TNT, MTV, BET, and streaming services Paramount+ and HBO Max.
## Ellison's Media Empire Build
David Ellison spent two years building his media empire, closing an $8 billion Paramount acquisition by August 2025, then launching a $110 billion bid for Warner Bros. Discovery.
## Kreiz's Turnaround at Mattel
Kreiz turned around Mattel during a four-year revenue downturn, cutting $1 billion in costs and reducing the workforce by 2,200 employees within two years.
## Barbie Film Success
Kreiz partnered with Warner Bros. to bring Barbie to the big screen, generating $1.4 billion at the box office but only $150 million for Mattel.
## Kreiz's Media Experience
Kreiz has 30 years in media, including roles at Disney, Endemol Group, and Fox Kids Group Europe, before becoming Mattel CEO in 2018.
## Merging Two Giants
The merger of Paramount and Warner Bros. Discovery will create Skydance with $79 billion in debt and a target of $6 billion in cost savings within three years.
## Film and Streaming Targets
Skydance must release at least 30 films per year in 2027-2028 and 32 films annually in 2029-2031 to settle antitrust lawsuits.
## Analyst Views on Kreiz
Analysts say Kreiz's Mattel turnaround experience helps Skydance's merger, though some question his ability to manage the complex integration.
## Kreiz's Role in Skydance
Kreiz will handle day-to-day operations and integration, while Ellison focuses on long-term strategy, creative vision, technology, and capital allocation.
## Job Market Impact
A report suggests 4,500 film and TV jobs in Los Angeles County are at risk over three years due to the merger.
## Kreiz's Challenges
Kreiz faces a massive debt load, complex integration, and balancing the merger's cost savings with maintaining film production targets.
## What Happens Next
Skydance will begin merging Paramount and Warner Bros. Discovery, aiming to realize $6 billion in cost savings while managing $79 billion in debt.
## Key takeaway

David Ellison named Ynon Kreiz as co-CEO to manage the $110 billion merger of Paramount and Warner Bros. Discovery, with Kreiz known for turning around Mattel.