Paramount Skydance names Mattel CEO Ynon Kreiz Co-CEO; WBD merger close set for Oct 6 at $31.02/share

Paramount Skydance Corp

Ynon Kreiz named Co-CEO and Board member effective Oct 5, 2026; David Ellison remains Chairman/CEO, keeping strategy, creative and technology; Kreiz oversees daily operations and integration.
Five-year employment letter: base salary $3.5M rising to $5M after the WBD closing; target bonus $1.5M rising to $4.9M; annual equity awards $15M rising to $20.1M post-closing.
Signing Award of 2,625,000 fully vested RSUs plus Pre-Closing Award of 1,250,000 RSUs; Post-Closing Award up to $5.1M, pro-rated; severance is 2x salary and target bonus over 24 months.
WBD merger expected to close Oct 6, 2026; each WBD share converts to $31.00 cash plus $0.00277778 per day after Sept 30, 2026, or $31.01666668 if closing occurs on that date.
Combined company expected to reach 200M-plus global streaming subscribers with more than $6B in run-rate synergies; Paramount projects 2026 revenue and EBITDA (preSBC) growth of 16-19%.

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