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Paramount (PSKY.O) Chairman and CEO David Ellison has appointed former Mattel CEO Ynon Kreiz as the company's newly created co-CEO, tasked with driving the integration following its $110 billion acquisition of Warner Bros. Discovery. Ellison will continue to serve as chairman of the combined company, and executives will report to both leaders. Ellison said Kreiz will bring the leadership experience and operational capabilities needed for the integration. The appointment is part of Paramount's efforts to build a new entertainment group that will combine two major film studios, streaming platforms, television networks, and news operations. A federal judge in California on Wednesday approved a settlement resolving a lawsuit brought by attorneys general from 12 states opposing the deal, clearing the way for the transaction to close. Paramount expects to complete the acquisition on October 6. Under the settlement terms, the company has committed to releasing at least 30 films per year and establishing editorial independence committees for news organizations such as CBS and CNN.