Israeli Executive Ynon Kreiz to Co-Lead Warner Bros. Discovery and Paramount Merger

Ynon Kreiz, an Israeli executive credited with revitalizing the Barbie brand, has been appointed co-CEO of the new media giant formed from the merger of Paramount and Warner Bros. Discovery. The announcement was made by David Ellison immediately after a federal court lifted legal restrictions that had previously blocked the colossal $110 billion deal. In the new leadership structure, Ellison will continue as Chairman and CEO, while Kreiz will join the board and oversee daily operations and the integration of the two companies.

The primary objective of the merged entity is operational efficiency, aiming to achieve cost savings exceeding $6 billion. The combined company boasts a formidable content library, including Paramount and Warner studios, HBO, CBS, CNN, Nickelodeon, and a streaming service with over 200 million subscribers.

Kreiz, 59, originally from Ramat Gan, Israel, and married to former Olympic sailor Anat Fabricant, transitioned into business after a career-ending injury ended his dream of becoming a professional footballer. Following a pivotal meeting with Haim Saban in the 1990s, he led Fox Kids Europe and headed Endemol during the peak of "Big Brother." He also orchestrated the sale of Maker Studios to Disney.

Since 2018, Kreiz has led toy manufacturer Mattel, guiding it out of a significant crisis and transforming it into a major content powerhouse. This transformation culminated in the 2023 "Barbie" film, a historic box office success. Now, bringing his proven operational expertise, Kreiz is set to lead one of Hollywood's largest and most influential media corporations.