Cindy Holland, who has overseen Paramount+ and other direct-to-consumer streaming businesses under the Paramount umbrella, announced on Tuesday that she was stepping down from her position.
Her departure comes just days before Paramount Skydance is expected to complete its acquisition of Warner Bros. Discovery, a deal that is set to significantly reshape the global entertainment and streaming landscape.
In a memo to employees sent on Tuesday afternoon, Holland said Paramount Skydance chief executive David Ellison had made decisions concerning the leadership structure for the next phase of the combined business.
Although she did not name Bloys, Holland indicated that Ellison was prioritising continuity around HBO as the companies prepare for the integration.
“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.
Holland’s exit comes amid growing speculation over how Paramount Skydance and Warner Bros. Discovery will organise their streaming businesses following the merger.
Bloys, a veteran HBO executive with nearly 25 years at the company, has emerged as the expected figure to oversee the combined streaming operation. He has guided HBO through a period of significant change, including multiple ownership and corporate restructurings.
His potential expanded role would place him at the centre of the combined HBO, HBO Max and Paramount+ streaming businesses as the newly merged company attempts to compete in an increasingly crowded global streaming market.
There is also speculation that JB Perrette, who currently oversees streaming business operations and gaming at Warner Bros. Discovery, could work alongside Bloys in the management of HBO, HBO Max and Paramount+.
Neither the full leadership structure nor the responsibilities of the various executives have been formally confirmed.
Holland leaves Paramount with an extensive record in the streaming industry. Before joining the company, she was part of the pioneering team that helped build Netflix into a dominant global subscription streaming service.
During her 18 years at Netflix, including nine years as vice president of original content, Holland played a major role in establishing the company's original programming strategy. She oversaw teams responsible for several of Netflix’s most prominent productions, including “House of Cards,” “Stranger Things,” “The Crown,” “Icarus,” “When They See Us” and “The Queen’s Gambit.”
Between her time at Netflix and Paramount, Holland also served as chief executive of Sister, the production company established by Elizabeth Murdoch.
Her departure comes at a pivotal moment for both Paramount and Warner Bros. Discovery, with the pending merger expected to trigger further changes across the companies’ divisions and leadership teams.
The entertainment industry is now closely watching how the combined company will structure its streaming strategy, particularly as HBO Max and Paramount+ enter a new phase under common ownership.
For Paramount, Holland’s exit represents one of the first major leadership changes to emerge as the company prepares to integrate Warner Bros. Discovery and chart the next stage of its global streaming ambitions.