Cindy Holland has stepped down from her role as chairman of direct-to-consumer at Paramount Skydance, effective immediately. Her departure comes just before the expected completion of Paramount’s $110 billion acquisition of Warner Bros. Discovery. Holland made the announcement to staff in a memo sent on Tuesday.
HBO chief Casey Bloys is expected to oversee the combined company’s streaming operations as Paramount moves closer to completing its Warner Bros. Discovery acquisition.
She oversaw both Paramount+ and Pluto TV during her time at the company, according to Variety. In her message Holland said she had discussed her future with Paramount CEO David Ellison. She explained that Ellison wanted to maintain stability at HBO as the company enters a new phase.
Holland confirmed her last day would be Tuesday though she did not name Casey Bloys directly. Variety reported that Bloys is expected to take on a leading role in the combined streaming business. He is poised to oversee HBO Max and Paramount+ after the merger closes.
Holland listed three goals she set when joining Ellison’s team in January 2025. These included advising on the Warner Bros. Discovery acquisition and transforming Paramount+ and Pluto TV. Her third goal was building a strong team.
She said all three objectives were met during her tenure.
Paramount+ hit an all-time subscriber high on her watch. She also noted the service had its best retention rate and saw double-digit growth in engagement and revenue. Holland’s team greenlit more than 40 new or returning series during her time at the company.
She highlighted Landman as the most-watched series in Paramount+ history. Dutton Ranch was noted as the service’s biggest original series debut. David Ellison praised Holland for her significant impact over the past year.
He credited her with raising Paramount+ to new levels and transforming Pluto TV. Ellison also said she helped strengthen the content and sports portfolio while the business exceeded its targets. He thanked her for her leadership and described her as a trusted partner.
The Warner Bros. Discovery transaction is still waiting for a federal judge to approve a proposed settlement with 12 state attorneys general. Paramount officially values the acquisition at an enterprise value of $110 billion. Some reports including the Los Angeles Times have described the transaction as a $111 billion purchase.
Holland joined Ellison’s team in January 2025 before Skydance completed its acquisition of Paramount. She was a former executive at Netflix before joining the company. The Los Angeles Times noted that she was among the senior Paramount figures without long-standing ties to Ellison.
Holland advised Ellison before the Skydance-Paramount merger took place. Casey Bloys is expected to take over streaming operations at the merged company according to Variety. The move comes as the Warner Bros. Discovery acquisition nears completion.
Holland’s memo discussed her role and future at the company. She said that Ellison is focused on maintaining stability at HBO as the company moves forward. Bloys has nearly 25 years of experience at HBO and has led the network through multiple corporate takeovers.
Holland was part of the team that helped build Netflix into a global streaming leader. She joined Ellison’s team before Skydance’s purchase of Paramount was completed. Holland’s full memo listed her goals when she joined the team.
She said her objectives were to advise on the Warner Bros. Discovery deal and transform Paramount+ and Pluto TV. She also wanted to build a top-tier team. Holland said she reflected on her time at the company and was proud of what the team had accomplished.
Holland noted that Paramount+ grew to an all-time subscriber high and delivered strong retention rates. She said the company greenlit more than 40 new or returning series during her tenure. Landman was the most-watched series in Paramount+ history according to Holland.
Dutton Ranch was the service’s biggest original series debut ever. Holland said that live sports were transformed into a strong streaming growth engine. She mentioned agreements with UFC and Zuffa Boxing as well as expanded WNBA and UEFA Champions League rights.
UFC Freedom 250 became the largest audience for an exclusive live event on Paramount+. UFC 329 set a new record for peak concurrent streams during an exclusive live event. Pluto TV underwent its biggest product transformation in a decade under her leadership.
She said the company’s financial performance improved across both platforms. Holland expressed her belief that the merger of Paramount and Warner Bros. Discovery benefits artists and audiences worldwide.
Bloys signed a five-year HBO contract in 2022 that runs through 2027. He acknowledged in March that his agreement expires next year but declined to discuss his future. Variety reported that he met with both David Ellison and Netflix co-CEO Ted Sarandos during the merger process.
The combined company is not expected to operate HBO Max and Paramount+ as completely separate services forever. Paramount has already outlined plans to bring the streaming operations together. Ellison has said combining their technology platforms is a major source of expected savings.
Bloys had lunch with Netflix co-CEO Ted Sarandos in March after Netflix walked away from its own Warner Bros. Discovery deal. The meeting fueled speculation about his future although Bloys played down its significance. He said at the time that he has lunch with many people.
Bloys has also met with Ellison. In March he said Ellison had spoken positively about HBO and its team. Bloys declined at that time to say whether he would remain at HBO after the acquisition.
The latest reports now point more clearly toward Bloys staying with the combined company in a larger streaming role. His expected position would put one of HBO’s longest-serving executives in charge as Paramount combines some of the biggest streaming brands in the entertainment industry.
IMAGE: Source Self-photographed Author Vladimír Novotný CC3