Paramount Skydance’s streaming chief is out as it closes in on its deal with Warner Bros. Discovery.
Cindy Holland told staffers in a memo obtained by Business Insider on Tuesday that it would be her last day at the company. Holland said the decision came as CEO David Ellison prepares for the $110 billion merger.
“As David readies for the next phase of his vision, we’ve discussed my role and the future of the combined businesses,” Holland wrote. “David is optimizing for HBO stability as we move into this next chapter, and I fully support that.”
A representative for Paramount declined to confirm if that meant HBO CEO Casey Bloys would be the new head of streaming.
“Cindy is one of the most exceptional executives in our industry — a force of nature whose impact on Paramount over the past year has been significant,” Ellison said in a statement.
Paramount announced last week it had settled an antitrust lawsuit brought by 12 states, clearing the way for the Warner Bros. merger. The deal, which the company said is expected to close within weeks, would make Paramount a Hollywood giant, with assets including Paramount Pictures, the Warner Bros. studio, CBS, HBO, and TV networks such as CNN and MTV.
Read Holland’s full memo here:
When I joined David’s team in January 2025, we proceeded to set three goals: i) advise on the Warner Bros. Discovery acquisition, ii) integrate and transform Paramount+ & revive Pluto TV, and iii) build an unparalleled team in this industry. In just over 12 months, I’m proud to say we accomplished all three and it’s been a joy to work closely with all of you.
Together with the Product team, we drove significant strategic and organizational change across DTC — building a new foundation for growth on both services, while investing in greater depth and breadth of programming and delivering strong revenue, profit, and subscriber growth for the division.
As David readies for the next phase of his vision, we’ve discussed my role and the future of the combined businesses. David is optimizing for HBO stability as we move into this next chapter, and I fully support that. I know this team has the leadership and expertise to manage through the transition and the next phase of the company, and to this end today will mark my last day here.
As I reflect on my time here and all that we’ve built together in this short time, what stands out most to me is this team. I have never been more proud of a group of people. What we’ve accomplished together is remarkable — landing quarter after quarter while navigating extraordinary uncertainty and change with resilience, focus and ambition. We grew Paramount+ to an all-time subscriber high, delivered the best retention in the service’s history, and drove double-digit growth in both engagement and revenue. We built an extraordinary content pipeline, greenlighting more than 40 new and returning series and setting all-time records with Landman, the most-watched series in Paramount+ history, and Dutton Ranch, the service’s biggest original series debut ever. We transformed live sports into a powerful streaming growth engine, securing landmark agreements with UFC and Zuffa Boxing and expanding our WNBA and UEFA Champions League rights — with UFC Freedom 250 becoming the largest-ever audience for an exclusive live event on Paramount+ and UFC 329 setting a new platform record for peak concurrent streams for an exclusive live event. And we undertook Pluto TV’s biggest product transformation in a decade, dramatically increasing registered viewing and VOD consumption while delivering strong financial performance across the business. These are extraordinary accomplishments — but what makes me proudest is how we achieved them: together, with an unwavering commitment to our audiences, our creative partners and one another.
I joined Paramount because I believe in these businesses, and because I believe wholeheartedly that the combination of Paramount and Warner Bros. Discovery serves the best interests of artists and audiences worldwide. I’m looking forward to seeing what you all accomplish together in this next, momentous chapter.
Cindy
