Elon Musk has reportedly invested about $1 billion in Skydance, according to Semafor, as the company looks to cut costs. Paramount closed its acquisition of Warner Bros. Discovery on Oct. 6 and named the combined entity Skydance. Co-CEOs David Ellison and Ynon Kreiz must merge two film studios, two streaming platforms and many corporate functions. Skydance expects $6 billion in cost savings over three years but faces nearly $80 billion in debt, and its shares fell about 1% after the report. Larry Ellison, David's father, previously invested $1 billion in Musk's 2022 deal to buy Twitter.
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