Paramount (PSKY.O) chairman and CEO David Ellison has appointed former Mattel
CEO Ynon Kreiz as co-CEO to lead integration after Paramount’s $110 billion
acquisition of Warner Bros. Discovery. Ellison will remain chairman of the
combined company and senior executives will report to both Ellison and Kreiz. A
U.S. federal judge in California approved a settlement resolving lawsuits by 12
state attorneys general, clearing a major legal hurdle; Paramount expects the
deal to close on Oct. 6. Under the settlement, Paramount committed to release at
at least 30 films a year and to set up editorial independence committees for CBS
and CNN.