Semafor, citing people familiar with the matter, reports Elon Musk has invested
about $1 bln in Skydance (SKYD.N, formerly Paramount Global) to provide funding
for cost cuts and to support the share price. The stake came roughly alongside
capital from other investors, including board member Laurene Powell Jobs. Musk
and Paramount did not immediately respond. Paramount CEO David Ellison has been
exploring partnerships with wealthy backers. Musk is close to Oracle founder
Larry Ellison; Larry Ellison previously provided more than $40 bln in equity
financing guarantees for Paramount’s acquisition of Warner Bros and invested $1
bln in Musk’s $44 bln 2022 take-private of Twitter.