Paramount Skydance Corporation named Mattel Chairman and CEO Ynon Kreiz as co-CEO of the planned combined Paramount and Warner Bros. Discovery after a federal judge cleared the $110 billion merger to close. Kreiz, 61, will start at Paramount on Oct. 5, assume the co-CEO role when the deal closes and join the board. His five-year employment agreement includes a $31.5 million signing bonus in restricted stock units, a base salary rising from $3.5 million to $5 million after closing, bonus targets increasing from $1.5 million to $4.9 million, and additional equity awards. Paramount Chairman and CEO David Ellison will retain responsibility for long-term strategy, creative vision, technology and capital allocation, while Kreiz handles daily operations and integration. The transaction is expected to close on Oct. 6 after U.S. District Court Judge Araceli Martínez-Olguín approved a settlement with a California-led group of 12 state attorneys general that challenged the deal. The consent decree requires at least 30 films in U.S. theaters annually, at least $300 million in additional domestic production spending each year above 2025 levels, and an editorial independence board for CBS News and CNN within 180 days of closing. Paramount said the combined company is projected to generate more than $6 billion in run-rate synergies and serve audiences in more than 200 countries and territories.