The Option

Former Mattel CEO Ynon Kreiz has held direct conversations with Paramount CEO David Ellison about a senior executive role at the combined Paramount–Warner Bros. Discovery, which is expected to close next week pending a federal judge's sign-off on an antitrust settlement. With the $110 billion merger days away, Ellison is assembling a management structure in real time — and Kreiz's international résumé points to a likely role overseeing the newly combined company's sprawling global operations. Key Takeaways: Kreiz stepped down as Mattel CEO on Wednesday after 8 years; Mattel's own...

Show Notes

Former Mattel CEO Ynon Kreiz has held direct conversations with Paramount CEO David Ellison about a senior executive role at the combined Paramount–Warner Bros. Discovery, which is expected to close next week pending a federal judge's sign-off on an antitrust settlement. With the $110 billion merger days away, Ellison is assembling a management structure in real time — and Kreiz's international résumé points to a likely role overseeing the newly combined company's sprawling global operations.

Key Takeaways:

  • Kreiz stepped down as Mattel CEO on Wednesday after 8 years; Mattel's own announcement described him moving to "a senior leadership position at another public company."
  • The Paramount–WBD merger is valued at $110 billion and is expected to close next week, contingent on a federal judge approving the antitrust settlement with state attorneys general.
  • Kreiz's exact title and scope are not finalized; multiple scenarios are in play, per sources familiar with the talks.
  • His international credentials include former CEO roles at Endemol Group and Fox Kids Europe, and a general partner position at Balderton Capital (formerly Benchmark Capital Europe).
  • The combined company's international portfolio spans Network 5 (UK), Network Ten (Australia), Leavesden Studios, Eurosport, TVN Poland, CNN, HBO Max global feeds, and international versions of MTV, Nickelodeon, Comedy Central, TLC, Cartoon Network, and Discovery channels.
  • Existing international leaders Gerhard Zeiler (WBD) and Kevin MacLellan (Paramount+) are both in place — a Kreiz appointment above either would represent a significant org-chart restructuring.
  • Separately, Cindy Holland's exit clears the path for HBO's Casey Bloys to run the combined streaming programming operation across both Paramount+ and HBO Max.

The Kreiz appointment is one of several rapid-fire executive moves being made as the merger close approaches. For agents, showrunners, and producers with projects at either streamer, the key near-term signal is the formalization of Bloys's authority over combined programming — and whether Kreiz lands in a role that also carries Wall Street-facing responsibilities, which have been vacant since Jeff Shell's abrupt departure as Paramount president last April. Watch for title announcements in the days immediately following merger close.

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