David Ellison has appointed Ynon Kreiz as co-CEO of the soon-to-be-merged Paramount Skydance and Warner Bros. Discovery, resolving a central governance question for the expanded media company. Kreiz, who built a turnaround reputation during his time at Mattel and has an entertainment-industry background, will share leadership with Ellison as the companies pursue $6 billion in cost reductions and manage $79 billion in debt. The transaction remains targeted for an Oct. 6 closing after a federal judge approved a settlement with 12 state attorneys general. The combined company is to operate under the Skydance name, while Paramount and Warner Bros. remain separate studio brands.