Paramount Skydance Corporation (NASDAQ: PSKY) announced that Chairman and CEO David Ellison has named Ynon Kreiz as co-CEO of the anticipated combined Paramount and Warner Bros. Discovery company, effective at the merger's closing.

Kreiz will join Paramount on Oct. 5, 2026, departing from Mattel, where he has served as Chairman and CEO since 2018. Upon closing of the merger, Kreiz will also join the combined company's Board of Directors.

Under the planned leadership structure, Ellison will retain the Chairman and CEO title and focus on long-term strategy, creative direction, talent relationships, strategic partnerships, technology and capital allocation. Kreiz will oversee day-to-day operations and the integration of the combined businesses.

Kreiz's background includes leading Mattel through a multi-year transformation that produced the 2023 film "Barbie," which became Warner Bros. Pictures' highest-grossing film of all time. Before Mattel, he served as Chairman and CEO of Maker Studios, which was acquired by Walt Disney Company, and as Chairman and CEO of Endemol Group.

Ellison said the pairing reflects "a division of labor built on our complementary strengths, with clear reporting lines." Kreiz said he looks forward to "building a cohesive global entertainment platform" powered by technology and creative relationships.

According to the press release, the company projects 2026 revenue and EBITDA growth of 16% to 19%, and the pending merger is expected to generate more than $6 billion in run-rate synergies. The combined entity would serve audiences in more than 200 countries and territories, with a streaming platform expected to surpass 200 million global subscribers.

The combined company's portfolio would include Paramount Pictures, Warner Bros. Pictures, CBS, CNN, HBO, Paramount+, and several other cable and streaming brands.