Skydance has a debt problem. Meet new co-CEO Ynon Kreiz, the man who's supposed to fix it.
Skydance has appointed Ynon Kreiz as co-CEO to manage the company's $80 billion debt load and oversee significant cost-cutting measures. Kreiz, formerly of Mattel, is expected to lead restructuring efforts, including potential layoffs, while David Ellison remains the public face of the company.
Why it matters
The appointment highlights the financial challenges facing the new media conglomerate and the likely human cost of its debt-reduction strategy.
Ynon Kreiz's new job as co-CEO of Skydance makes him one of the most powerful men in media. Kevin Dietsch/Getty Images David Ellison's new Skydance empire comes with $80 billion in debt. Ynon Kreiz, Ellison's newly hired co-CEO, is the man who has to figure out how to shave that number down. Kreiz is not a high-profile Hollywood figure. The cuts he's about to make may make him one. Hollywood has spent a couple of years trying to figure out Skydance CEO David Ellison, who now runs the companies formerly known as Paramount and Warner Bros. Discovery . Now they have a new character to get to know: Ynon Kreiz , Ellison's newly appointed co-CEO. Kreiz, who is expected to co-host a press event with Ellison on Tuesday night, comes to Skydance from Mattel, where he is best-known for two things: engineering a deal with Warner Bros.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in