Semafor reports that Elon Musk invested about $1 billion in Skydance after Paramount completed its $110 billion acquisition of Warner Bros.
Discovery.
The combined company’s co-CEOs are tasked with bringing Paramount+ and HBO Max together alongside networks such as CBS, CNN and MTV—a snapshot of the platform and network integration underway at the newly combined media company.
A few weeks earlier, Paramount had completed its $110 billion acquisition of Warner Bros. Discovery, creating a new, combined company. Its co-CEOs, David Ellison and Ynon Kreiz, are tasked with combining the Paramount+ and HBO Max services, as well as the CBS, CNN, MTV, TBS, Comedy Central and Food Network networks.
Semafor reported that Musk's investment came around the same time as funding from other Skydance investors, including Laurene Powell Jobs, a member of the company's board of directors. Skydance has committed to cutting costs by $6 billion over the next three years.
Musk has close ties to Larry Ellison and has spoken highly of the Ellisons publicly. In 2018, he appointed Larry Ellison to Tesla's board of directors. That same year, Ellison invested in Tesla. In 2022, he invested $1 billion to help Musk buy Twitter.
READ ALSO
PCMag: Five web hosting services under $10 per month
Skydance did not immediately respond to TechCrunch's request for comment.
G
Hacks.gr on Google
Set it as a preferred source for cybersecurity updates.
Preferred source
