HBO chief Casey Bloys is poised to take the reins of all of Paramount and Warner Bros. streaming operations once the two companies merge. On Tuesday, Cindy Holland announced she was stepping down from her role running Paramount+ and other direct to consumer streamers under the Paramount umbrella.
The shuffle comes as Paramount Skydance is days away from closing its hard-won $110 billion acquisition of Warner Bros. Discovery.
Holland confirmed her departure in a memo to staff sent Tuesday afternoon, acknowledging that Paramount Skydance CEO David Ellison has made the decision regarding streaming leadership, although she did not reference Bloys by name.
“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,” Holland wrote.
Over the past few weeks, speculation emerged that Bloys was likely to come over post merger in the top role overseeing all streaming operations. Bloys is a near 25-year veteran of HBO who has steered TV’s most prestigious brand through choppy waters and three massive corporate takeovers in eight years. There’s also speculation that JB Perrette, who now heads streaming business operations and gaming for WBD, will join Bloys in steering HBO, HBO Max and Paramount+.
Holland was part of the pioneering team that built Netflix into the world’s biggest subscription streaming platform. Her 18-year run at that streamer included nine years as Vice President of Original Content. Holland established the network’s original programming strategy and oversaw the teams behind flagship hits like “House of Cards,” “Stranger Things,” “The Crown,” “Icarus,” “When They See Us” and “The Queen’s Gambit.” Between Netflix and Paramount, Holland served as CEO of Sister — the production company formed by Elizabeth Murdoch. Her exit comes as the industry speculates wildly about the fate of other division leaders across both companies.
Here is Holland’s full memo:
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.