Cindy Holland exiting PSKY, Casey Bloys set to lead D2C following WBD merger

Cindy Holland

Cindy Holland is leaving her role as chairman of direct-to-consumer (D2C) at Paramount Skydance (PSKY) ahead of its merger with Warner Bros Discovery (WBD), with HBO boss Casey Bloys set to run the streaming side of the combined business.

Holland, who joined PSKY in an official capacity in summer 2025 after serving as a consultant to Skydance before it officially acquired Paramount Global, announced her departure in a memo on Thursday.

One of the big question marks around the merger, which still awaits final approval, has been which executive PSKY chairman and CEO Ellison would install to lead the streaming division.

Given the industry standing of both Holland and Bloys, it seemed unlikely that a co-head arrangement would work, meaning Ellison had a major decision to make. According to the Wall Street Journal (WSJ), Ellison chose Bloys to lead the streaming side of the combined company.

Bloys had indicated he was not interested in sharing the post with another executive, added the WSJ, and Ellison was concerned that losing him could inflict damage on the HBO brand, which is still widely considered as the standard bearer in prestige television, in addition to having widened its aperture with titles like The Pitt, which has become a major commercial and critical hit for HBO Max.

“As David readies for the next phase of his vision, we’ve discussed my role and the future of the combined businesses,” wrote Holland in her memo on Tuesday.

“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.”

Since officially taking up the post last summer, Holland and her team have commissioned series including 9/12, a legal drama featuring Jeremy Strong exploring the real-life battle faced by first responders who fell gravely ill in the wake of the World Trade Center attacks in 2001; Scottish Highlands drama, Laird, starring Kenneth Branagh; and Viola Davis-led thriller Ascent, among others.

Holland also played key roles in signing Stranger Things creators Matt and Ross Duffer to an overall deal with PSKY, ending the creators’ longterm affiliation with Netflix, where Holland was a key architect of its entrance into original programming during an 18-year tenure that concluded in 2020. After leaving Netflix, she was named global CEO at Sister in 2023, before beginning to work with Ellison at the start of 2025.

While Ellison has not yet officially confirmed Bloys as his new streaming boss, Holland’s departure clears the way for an announcement once the merger deal receives the final seal of approval.

As part of the settlement with a coalition of 12 US states that had sued to block the merger, PSKY agreed to concessions in several areas of business including theatrical releasing and cable carriage negotiations. There are, however, no restrictions around its streaming business, meaning it can immediately begin working to integrate Paramount+ and HBO Max.

A timeline has not been placed on combining the two streamers, though it is widely viewed as among the most important areas of focus for the combined PSKY/WBD entity.

In a statement, Ellison praised Holland for her contributions to PSKY over the past 14 months.

“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,” said Ellison.

“Under her leadership, P+ reached new heights, Pluto TV underwent its most significant transformation in a decade, and we strengthened our content and sports portfolio – all while the business exceeded the ambitious goals we set. Just as importantly, she built an exceptional team and a strong foundation for the future. Cindy has been a trusted partner to me and so many others, and I couldn’t be more grateful for her leadership, her relentless drive and everything she’s done for our company.”