Cindy Holland transitions to strategic role in Skydance’s Paramount merger

Cindy Holland departs Sister to join Skydance

In a strategic shuffle, Cindy Holland is stepping down from her role as CEO of the production company Sister to assume a senior advisory position with David Ellison and Skydance Media. This move is pivotal as Skydance prepares to merge with Paramount Global in 2025, marking a significant turn in the entertainment industry.

Shutting down Sister’s LA office

With Holland’s departure, Sister’s board has decided to close its Los Angeles film and TV office by the end of 2024. This decision is partly driven by the reduced size of the LA team, which consists of fewer than 20 employees, and a shift in strategic direction towards their UK operations. Chris Fry, the current CFO, will step in as interim CEO while the search for Holland’s successor is underway.

Holland, who joined Sister as global CEO in July 2023, brought significant experience from her long tenure at Netflix. Sister was originally founded by media mogul Elisabeth Murdoch and Chernobyl producer Jane Featherstone, further solidifying its foundation in high-quality storytelling.

The merger deal: Skydance and Paramount

In her new advisory role at Skydance, Holland will extend her expertise on the streaming business. Skydance, bolstered by its financial partner RedBird Capital, struck a deal with Paramount’s controlling shareholder Shari Redstone. The merger, expected to close in the first half of 2025, will see Ellison becoming the CEO of the combined entity, while former NBCUniversal CEO Jeff Shell is set to become president.

Remarks from industry leaders

Holland expressed her pride in being part of Sister, emphasizing the company’s dedication to quality storytelling and creative integrity. “I’m grateful to Liz, Jane, and the whole team for their partnership,” she said. She also looked forward to future collaborations and highlighted her longstanding relationship with David Ellison and the senior team at Skydance.

Elisabeth Murdoch praised Holland’s tenure at Sister, calling her a “brilliant, talented executive.” Murdoch acknowledged the challenging times for production companies and highlighted the board’s decision to focus on the UK market as a strategic move to boost sustainable growth. “Our exceptional UK base for Sister film and television operations will be our model moving forward. I’m thankful for the work of the Sister U.S. film and television team and we will take care of them,” Murdoch added.

The strategic focus on the UK market

Sister’s decision to close its LA office and concentrate efforts on the UK market is influenced by the challenging market conditions in the U.S. for film and TV production. The company aims to capitalize on the proven success of its UK operations, which have consistently delivered high-quality content for a global audience.

This year, Sister has a promising slate of projects including:

• Good Grief (Netflix)
• Passenger (ITV/BritBox)
• Eric (Netflix)
• Kaos (Netflix)
• The Split: Barcelona (BBC)
• Black Doves (Netflix), which has already been commissioned for a second season before its December premiere.

Additionally, through its investments, Sister has backed notable projects like “Greatest Night in Pop” (Netflix), “Anatomy of Lies” (Peacock), “Wicked Little Letters” (South of the River Pictures), and “Last Christmas” (Locksmith Animation, Netflix). Sister’s expansion into podcasts includes productions like “Noble,” “Night Shift,” and “White Devil” from Campside Media.

Continuing U.S. engagements and new ventures

While the primary focus shifts to the UK, Sister will continue to produce and sell shows for the U.S. market. Their ongoing commitments include majority stakes in Zando and Campside Media, and support for U.S.-based employees at Dorothy St. Pictures and Locksmith Animation.

During Holland’s leadership, Sister U.S. received a Netflix greenlight for “The Woman in Cabin 10,” currently in production. Talent deals with notable figures like Natasha Lyonne and the duo Brit Marling/Zal Batmanglij further bolster the company’s robust portfolio.

Holland’s move signifies a broader strategic realignment within Sister, aiming to leverage market dynamics more effectively. Collaborations beyond her new role with Skydance can unlock numerous opportunities, given her expertise and industry acumen.

In a fast-evolving entertainment landscape, such strategic decisions and leadership changes are crucial for maintaining competitive advantage. Stay tuned for more updates on this exciting transformation in the industry!

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