Ynon Kreiz Joins David Ellison at the Top of the Combined Paramount-Warner Bros. Discovery

Ynon Kreiz, 61, will serve as co-chief executive of the merged Paramount-Warner Bros. Discovery, Variety reported. In that role, he will lead the company alongside David Ellison. Variety described Kreiz as Ellison's closest deputy at the combined company. His compensation in the new post is valued at more than $46.5 million. According to the report, that is more than he received as chief executive of Mattel. Variety reported that Kreiz has signed an initial agreement with the company. The appointment puts the former Mattel chief at the head of a company formed by the merger of two major entertainment businesses.

With reporting from Variety.