Paramount has appointed former Mattel chief Ynon Kreiz as co-CEO alongside David Ellison, ahead of the planned merger with Warner Bros. Discovery. The arrangement divides leadership responsibilities: Ellison will oversee long-term strategy and creative direction, while Kreiz will manage day-to-day operations and integration of the combined businesses.

Kreiz led Mattel from 2018 and oversaw its partnership with Warner Bros. Pictures on the hit Barbie film; he is due to start at Paramount on 5 October. The $110 billion merger has also cleared a hurdle after a judge approved a settlement with several states that had opposed it. Separately, Paramount streaming chief Cindy Holland is stepping down, and Variety reports that HBO chief Casey Bloys is expected to lead both HBO and Paramount Plus.