David Ellison has named Ynon Kreiz as co-CEO of the newly merged Skydance, which closes Tuesday and combines Paramount, Warner Bros. Discovery, CBS, pay-TV networks including CNN and HBO Max, and streaming services Paramount+ and HBO Max into a single company.
Kreiz, outgoing CEO of Mattel, brings 30 years of media experience. Before Mattel, he led Maker Studios (sold to Disney in 2014) and Endemol Group, a major independent television production company. He also co-founded Fox Kids Group Europe, acquired by Disney in 2002. At Mattel, Kreiz oversaw the 2023 box office success of "Barbie," a film that generated over $1.4 billion globally.
The appointment addresses questions about whether Ellison, a tech executive and son of billionaire Larry Ellison, can operationally lead the legacy media assets he has acquired. Ellison took over film production company Skydance with limited hits roughly 18 months ago. He closed an $8 billion Paramount acquisition in August 2025 and then pursued Warner Bros. Discovery in a bidding war, resulting in a roughly $110 billion enterprise-value deal.
Under the new structure, Ellison will focus on long-term strategy, creative vision, technology and capital allocation. Kreiz will handle day-to-day management and integration of the combined businesses.
Wall Street analysts view Kreiz's appointment favorably. Matthew Condon at Citizens Bank said his operating experience and brand focus position him to lead integration and build a "best-in-class content and IP platform." Gerrick Johnson at Seaport Research Partners cited Kreiz's work at Mattel, where he cut roughly $1 billion in costs, eliminated product lines, closed manufacturing facilities and reduced headcount by 2,200 employees. He restructured supply chains and prioritized free cash flow generation.
Matthew Dolgin at Morningstar cautioned that Kreiz may not be "the best conceivable choice" for the role, though he called Kreiz an "experienced hand" who improves the company's position. Dolgin views Kreiz's co-CEO title as functional chief operating officer work.
Eric Handler at Roth Capital Partners called the appointment "an excellent choice for Paramount." When Kreiz joined Mattel in 2018 as the fourth CEO in four years, the toymaker faced a four-year revenue decline, was losing money, and saw its brands struggling. He reversed that trajectory within two years.