The Skydance merger saga is getting a brand new storyline, courtesy of Elon Musk.
According to multiple reports, Elon Musk has invested around $1 billion into Skydance, the company formed after the Paramount and Warner Bros. Discovery merger closed on Oct. 6. The investment comes as part of Skydance’s efforts to raise equity investments, according to Semafor.
Musk has a long history with Skydance co-CEO David Ellison’s father, Larry Ellison, who previously invested $1 billion in Musk’s 2022 deal for X and also invested in Tesla, serving on the company’s board.
News of the investment comes shortly after media mogul John Malone predicted Musk would become involved with Skydance.
