David Ellison names Ynon Kreiz co-CEO of Paramount and Warner Bros. Discovery

Paramount's acquisition of Warner Bros. Discovery is set to close on October 6, following a court approval of a settlement with state attorneys general. Ynon Kreiz will join Paramount as co-CEO on October 5, overseeing daily operations. Kreiz previously served as Mattel's CEO from 2018 to 2026.

A federal judge approved a settlement between Paramount and 12 states, clearing the final legal hurdle for Paramount's merger with Warner Bros Discovery. The five-year agreement includes film-release commitments, spending on U.S. production, and support for displaced workers. The merger is expected to close in about two weeks, with Mattel's Ynon Kreiz joining as co-CEO.

A federal judge approved Paramount Skydance's $110B acquisition of Warner Bros. Discovery, with conditions to address competition concerns. The deal requires Paramount to produce a set number of films annually and negotiate cable licensing fees separately for five years. The states and Paramount had previously reached a settlement, and the DOJ approved the merger in June. The deal was challenged by 12 states, citing antitrust concerns.

David Ellison, CEO of the soon-to-be merged Paramount-WBD, announced Ynon Kreiz as co-CEO. Kreiz, former CEO of Mattel, will focus on day-to-day management. Ellison will handle long-term strategy. The merger is expected to close next week. Cindy Holland, head of Paramount+, is leaving, while Casey Bloys will lead streaming for the combined company.

A federal judge approved the $111bn merger between Paramount and Warner Bros Discovery (WBD). David Ellison, Paramount CEO, named Ynon Kreiz co-CEO. The deal is expected to close next week, with $6bn in projected savings. The companies must meet theatrical and cable distribution commitments to avoid penalties, including divestment of certain assets.

A federal judge approved the $110B merger between Paramount Skydance and Warner Bros. Discovery, allowing finalization after October 5, 2026. The deal combines major media assets, including CBS News, CNN, HBO Max, and Paramount+. Leadership changes include Ynon Kreiz as co-CEO, with Larry Ellison backing the acquisition. The merger faced legal challenges but settled with commitments to film production and editorial oversight. Shares of both companies rose post-approval.