Former Mattel CEO Ynon Kreiz Tapped for Top Role in Paramount-Warner Bros. Discovery Merger

Ynon Kreiz, the outgoing CEO of Mattel, has been appointed co-CEO of the new company formed by the merger of Paramount and Warner Bros. Discovery. He will lead the company alongside David Ellison, Chairman and CEO of Paramount, and will be responsible for day-to-day operations and integrating the two content giants. Kreiz, who has led Mattel since 2018, was instrumental in transforming the toy company into a content powerhouse, a strategy highlighted by the global success of the "Barbie" movie.

Kreiz will begin his role at Paramount on October 5th. Upon completion of the $81 billion deal, he will also join the board of the merged entity. Ellison will focus on long-term strategy, creative direction, technology, and talent relationships, while Kreiz will oversee daily management and the integration process. The merger received a significant boost when a U.S. federal judge approved a settlement between Paramount and 12 states that had opposed the deal over antitrust concerns.

The combined company is set to become one of the largest media entities in the U.S., encompassing major brands such as Warner Bros. and Paramount studios, HBO and HBO Max, CNN, CBS, Paramount+, Discovery, MTV, Nickelodeon, Cartoon Network, and Comedy Central. Kreiz's tenure at Mattel saw a strategic shift towards leveraging its brands for content creation, culminating in the billion-dollar success of "Barbie," a co-production with Warner Bros.

Prior to Mattel, Kreiz had extensive experience in television and media, including co-founding Fox Kids Europe, leading Endemol Group, and serving as chairman and CEO of Maker Studios, which was acquired by Disney. This appointment places Kreiz, long considered a prominent Israeli in the international entertainment industry, at the helm of a global media empire spanning film, television, news, and streaming.

The merger process has also been marked by controversy, including accusations of antisemitism. Actor Mark Ruffalo, a vocal opponent of the deal, linked the Ellison family's funding of the merger to their support for Israel and Oracle's business ties with the country. Paramount accused Ruffalo of using antisemitic tropes, a claim he denied. While some Jewish organizations supported Ruffalo, others stated his comments crossed a line, and over 170 cultural figures signed an open letter arguing that the antisemitism accusation was used to silence criticism.