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:
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