Ynon Kreiz named new co-CEO of the combined Paramount-Warner Bros. company
After a notable run in entertainment leadership, Ynon Kreiz is stepping into a pivotal post at Paramount-Warner Bros.—but which seat is his?
The move happens fast. Ynon Kreiz was named Co-CEO of the soon-to-merge Paramount and Warner Bros. Discovery on September 30, and he’s due to clock in at Paramount on October 5—just days after he exits Mattel and as the giant deal heads for the finish line.
The roughly $110 billion combination is expected to close around October 6.
Inside the new setup, the split is clear: David Ellison will point the ship; Kreiz will keep it running. The company says all divisions will report to both leaders, with Kreiz taking the day-to-day reins and the heavy lift of merging two sprawling media operations.
Who does what
- Ynon Kreiz — Day-to-day management of the combined company and oversight of integration.
- David Ellison — Long-term strategy, creative direction, talent relationships, strategic partnerships, technology, and capital allocation.
The path to closing cleared after a federal judge approved a settlement tied to the deal. Kreiz and Ellison will also help choose members of an editorial independence board for CBS News and CNN. Over at Mattel, former Condé Nast chief Roger Lynch is stepping in to run the toy maker as Kreiz departs.
What this means for viewers
The combined library pulls together some of the biggest franchises in Hollywood. The new co-CEO will be stewarding, among others:
- Harry Potter
- DC Comics
- Star Trek
That’s a notable full-circle moment for Kreiz, who helped turn Mattel’s brands into on-screen hits—and did it most memorably with a certain doll in pink.
From Barbie to Burbank
Kreiz took over as Mattel CEO in April 2018 (and became Chairman that May) with a plan to turn the toy company into an entertainment engine for its IP—across film, TV, digital games, live events, publishing and consumer products. By 2021, Mattel reported net sales up 19% and operating income up 95%, and its credit ratings improved as the company reclaimed top slots in key toy categories.
Then came Barbie in 2023—released by Warner Bros. Pictures, directed by Greta Gerwig and starring Margot Robbie. It finished as the year’s No. 1 movie worldwide, topped $1.4 billion, and became Warner Bros.’ highest-grossing film ever. Kreiz collected some hardware of his own: he landed on TIME’s 100 Most Influential People list in 2024 and was named Cannes Lions Entertainment Person of the Year.
Career track: kids’ TV to YouTube to toys
Long before Barbie’s box-office run, Kreiz built a résumé across nearly every corner of modern entertainment. After meeting media mogul Haim Saban while getting his MBA at UCLA Anderson, he became Saban’s business partner in 1994 and moved to London to launch Fox Kids Europe as a joint venture with News Corporation. As Chairman and CEO from 1997 to 2002, he grew it into one of Europe’s fastest-growing pay-TV networks—reaching roughly 54 to 56 countries in 17 languages—before Disney bought a majority stake.
He then shifted to venture capital as a General Partner at Benchmark Capital Europe (2005–2007), ran Endemol Group (2008–2011), and jumped into early creator economy territory with Maker Studios, becoming Chairman in 2012 and CEO in 2013. Disney acquired Maker in 2014 for $500 million plus up to $450 million in incentives.
The person behind the title
Born in 1965 in the Tel Aviv–Ramat Gan area to an engineer father and a psychologist mother ( raised in the UK), Kreiz completed service in the Israel Defense Forces and earned a bachelor’s in economics and management from Tel Aviv University in 1991 before heading to Los Angeles for that UCLA MBA in 1993. As a kid he collected Hot Wheels and grew up a die-hard Manchester United fan—foreshadowing his Mattel detour. He once taught windsurfing in the Caribbean, is now an early-rising kite surfer, and is married to former Olympic sailor Anat Fabrikant; they have four children.
Ellison has been pitching the merged operation as creator-first and tech-forward, with Kreiz brought in for his operating chops and integration muscle. He officially starts on October 5, as the merger is targeted to close around October 6.