LOS ANGELES — Hollywood is buzzing this week – less about Sunday’s Academy Awards than fears of a looming bloodbath after Paramount Skydance inks its mega merger with Warner Bros. Discovery.
While casualties could reportedly number in the thousands, the chatter in Tinseltown is increasingly focused on who could lose their jobs in the C-suites – with some betting that HBO boss Casey Bloys may be at risk.
In recent days, Paramount CEO David Ellison has made the rounds at WBD, telling staffers that he intends to keep WBD’s crown jewel HBO independent. He has even met with Bloys one-on-one to emphasize his commitment.
But agents, producers and other media watchers aren’t buying it and are speculating that Bloys, a hitmaker who brought “The Pitt,” “White Lotus” and “Heated Rivalry” to HBO, could get edged out by Paramount’s direct-to-consumer chief Cindy Holland.
They pointed to Ellison’s own statement that streaming platforms Paramount+ and HBO Max will be folded into one service – arguing that it looks like a blueprint for how things will unfold at the company more broadly.
A rep for Paramount declined to comment.
“There has to be consolidation,” said a top Hollywood agent, who predicted that despite Ellison’s reassurances, there will be a streamlining from the top down.
The source pointed to the hefty $79 billion debt load that Paramount will take on when the WBD deal closes, as well as all the duplicative jobs across both companies, which when combined will include two Hollywood studios, two streaming services, two news networks and a slew of cable channels.
“Why do they need two programming chiefs?” the insider said, adding that Bloys’ high compensation will make it an easy choice for Ellison. The source estimated that the HBO boss’ compensation is $15 million.
A rep for HBO did not return requests for comment.
Sources noted that Bloys is more liberal and outspoken in the Hollywood community compared to Holland, who operates a bit more under the radar.
Holland, a former Netflix exec who helped build the streamer into behemoth with hits like “Stranger Things,” “House of Cards” and “The Crown,” has a mountain of accomplishments – not to mention a strong relationship with Ellison.
“I think he picks her,” said one producer.
“People are trying to create this fictitious tension between Cindy and Casey. David sees the value in Casey,” a person familiar with the situation told The Post.
Such speculation may be premature – the deal still needs to get the greenlight from US regulators – and from there, top brass will need to evaluate what is working and what isn’t.
Sources who know both Holland and Bloys say the entertainment veterans will find a way to work together.
Still, there is a “lack of clarity” when it comes to how Ellison will reorganize the companies while maintaining the quality of HBO, several sources said.
Beyond the leadership “Hunger Games” that is expected to play out once the deal is closed, there is also skepticism about Ellison’s pledge to put out 30 movies a year.
“There’s an existential dread,” one top motion picture agent told me. “Warner Bros. was a significant buyer and it’s collapsing into Paramount Pictures.”
“You can say anything, that you will make 30 movies a year, but if the financials are bad, that can change overnight.”
