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

Paramount Skydance CEO David Ellison announced on Wednesday the appointment of outgoing Mattel Chief Executive Officer Ynon Kreiz as his co-CEO of the anticipated combination of Paramount and Warner Bros. Discovery.

Kreiz will take on operational duties of the media company, according to a press release.

"Ellison will focus on the company's long-term strategy, creative vision and direction, including its talent relationships, strategic partnerships, technology and capital allocation," Paramount stated in the release. "Kreiz will focus on the company's day-to-day management and integration of the combined businesses."

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