Elon Musk made a $1 billion investment in Skydance, report says
News Source
โขThu, 22 Oct 2026 17:36:38 +0000
๐ฐ What Happened
Elon Musk has put about $1 billion into Skydance, the new media company formed after Paramount bought Warner Bros. Discovery. The report comes from Semafor.
The deal closed a few weeks ago and was worth $110 billion. Skydance now owns Paramount+ and HBO Max. It also owns CBS, CNN, MTV, TBS, Comedy Central, and Food Network.
Co-CEOs David Ellison and Ynon Kreiz must merge two streaming services and a pile of TV networks into one company. Skydance did not answer TechCrunch's request for comment.
๐ The Backstory
Musk and the Ellison family go back years. Larry Ellison, David's father, put $1 billion into Musk's purchase of Twitter in 2022. He also invested in Tesla in 2018, and Musk gave him a seat on Tesla's board.
Semafor says Musk's money came in around the same time as cash from other investors, including board member Laurene Powell Jobs.
The new money is useful. The company has promised to cut $6 billion in costs over three years, and it wants to lift its stock price.
๐ฏ Why It Matters
This puts a Musk ally inside one of the world's biggest media companies. That can shape the news and entertainment millions of people see.
Elon Musk has put about $1 billion into Skydance, the new media company formed after Paramount bought Warner Bros. Discovery. The report comes from Semafor.
The deal closed a few weeks ago and was worth $110 billion. Skydance now owns Paramount+ and HBO Max. It also owns CBS, CNN, MTV, TBS, Comedy Central, and Food Network.
Co-CEOs David Ellison and Ynon Kreiz must merge two streaming services and a pile of TV networks into one company. Skydance did not answer TechCrunch's request for comment.
Musk and the Ellison family go back years. Larry Ellison, David's father, put $1 billion into Musk's purchase of Twitter in 2022. He also invested in Tesla in 2018, and Musk gave him a seat on Tesla's board.
Semafor says Musk's money came in around the same time as cash from other investors, including board member Laurene Powell Jobs.
The new money is useful. The company has promised to cut $6 billion in costs over three years, and it wants to lift its stock price.
This puts a Musk ally inside one of the world's biggest media companies. That can shape the news and entertainment millions of people see.