The New Power Duo
David Ellison has been playing big, and now he’s bringing in a heavyweight to help him manage his new $110 billion media giant, Skydance. Starting Tuesday, outgoing Mattel CEO Ynon Kreiz will step into the role of co-CEO alongside Ellison. This massive entity is combining the heavy hitters of Hollywood: Paramount, Warner Bros., CBS, CNN, TNT, MTV, BET, and streaming services like Paramount+ and Max.
Can Ellison lead?
Ellison is tech-focused and clearly a master at closing deals, but Wall Street has been side-eyeing his ability to actually run a legacy media conglomerate. By bringing in Kreiz, he’s effectively adding an 'operator' to his 'visionary' role. While Ellison focuses on the big-picture strategy and tech, Kreiz is there to handle the messy, day-to-day integration of these massive companies.
The 'Barbie' Factor
Kreiz is best known for the 'Barbie' movie craze of 2023, which he used to revive Mattel. However, the track record is a bit mixed. While some analysts praise his ability to cut costs—he famously slashed 2,200 jobs and streamlined Mattel’s supply chain—others point out that the post-Barbie hype didn't exactly save Mattel's long-term financials. Revenue has recently stalled, and some critics think he focused too much on the entertainment side, losing the plot on toy innovation.
Why it matters
This is a high-stakes play. The new Skydance is staring down a massive $79 billion debt pile and is promising to hunt down $6 billion in cost savings over the next three years. Kreiz’s job is to prove he can turn this merger into a profit machine, not just a content playground. If they can’t make those synergies hit, the vibes are definitely going to be off.
