Elon Musk has invested about $1 billion in Skydance, CNBC reported, citing a person familiar with the matter.
The reported investment comes as the media company seeks new equity and begins combining its businesses after acquiring Warner Bros. Discovery.
Skydance and Musk did not immediately respond to Reuters’ requests for comment.
Semafor, which first reported Musk’s investment, said it formed part of a broader effort to bring in equity from investors.
A new media company faces a major integration
Earlier this month, Paramount Skydance completed its $110 billion acquisition of Warner Bros. Discovery.
The combined company is called Skydance and brings together major film studios, streaming services, television networks and news operations. The company announced the transaction’s completion on October 6.
The scale of the deal creates both reach and complexity. Skydance now has to coordinate a larger portfolio of businesses while pursuing cost reductions.
CEO David Ellison has described plans to position the company as a technology-driven media business.
Musk’s reported investment would provide additional equity as Skydance undertakes that transition.
However, the reports did not specify the size of any ownership stake, the investment terms or whether Musk would receive a role in company decisions.
Last month, Ellison named former Mattel CEO Ynon Kreiz as Skydance’s co-CEO.
The leadership appointment comes as the company works through the operational challenges of bringing large entertainment businesses together.
A longstanding connection to the Ellison family
Musk has had a long relationship with Oracle co-founder Larry Ellison, the father of Skydance CEO David Ellison.
In 2022, Larry Ellison committed $1 billion to help finance Musk’s purchase of Twitter, now called X.
Larry Ellison also personally guaranteed more than $40 billion in equity financing for Paramount’s offer to acquire Warner Bros.
Discovery, according to Reuters. That support helped underpin a transaction that reshaped the media company.
The reported Skydance investment therefore connects two business figures with an established financial history.
Still, the current investment is attributed to Musk, and its terms have not been publicly detailed.
What to watch next
The key questions are how Skydance will use new equity, how quickly it can integrate the acquired businesses and whether its cost-cutting plans affect its streaming and content strategies.
The company’s ability to combine its assets while maintaining audiences and creative output will shape how the merger performs.
For now, Musk’s reported $1 billion commitment adds a prominent investor to Skydance’s transformation. The full financial and governance details remain undisclosed.
