Elon Musk Invests $1 Billion in Skydance
The investment comes a day after John Malone predicted a much larger SpaceX deal with David Ellison's media giant The post Elon Musk Invests $1 Billion in Skydance appeared first on TheWrap.
Speaking at the Paley International Council Summit Wednesday, Malone predicted that SpaceX could strike a deal with Skydance involving $8 billion to $10 billion in cross-investment and a potential global content distribution partnership. It’s unclear whether Musk’s reported investment was made personally or through SpaceX, or whether a larger deal is in the works.
“I think there’s a deal coming there,” Malone said, pointing to the longstanding financial relationship between Musk and the Ellison family.
That connection runs through Oracle co-founder Larry Ellison, David Ellison’s father and a major financial backer of Skydance. The elder Ellison committed $1 billion to Musk’s 2022 acquisition of Twitter, now X, and previously served on Tesla’s board.
“Who helped Elon finance Twitter when he bought it? Larry Ellison,” Malone said Wednesday. “I would not doubt for a minute that before very long, you’re gonna see an announcement.”
According to Semafor, Musk’s investment came together around the same time as additional equity investments from other Skydance backers, including board member Laurene Powell Jobs. The outlet reported in September that the company was considering bringing Musk in as an investor.
Skydance completed its $81 billion acquisition of Warner Bros. Discovery on October 6, bringing Warner Bros., HBO and CNN under the same corporate umbrella as Paramount and CBS. The $81 billion figure represents WBD’s equity valuation. The combined company is targeting at least $6 billion in annualized cost savings and other synergies within three years as it integrates the businesses.
The acquisition has left Skydance managing a substantial debt load while seeking to cut costs and invest in technology and streaming. Musk’s reported investment would provide additional capital as David Ellison works to integrate the company’s film studios, television networks and streaming operations.
Malone, the former chair emeritus of Warner Bros. Discovery, specifically identified SpaceX’s Starlink satellite internet service as a potential distribution partner for Skydance’s television and streaming properties.
The longtime cable executive argued that Skydance needs to rethink how its traditional television channels reach consumers as audiences migrate toward streaming and digital platforms. He also warned that YouTube’s growing dominance presents a major competitive challenge for established media companies.
For now, neither the structure of Musk’s reported investment nor the size of any resulting ownership stake has been publicly disclosed. And while Malone’s prediction has drawn renewed attention following Thursday’s report, there has been no confirmation of a broader SpaceX-Skydance partnership.
