Elon Musk Puts $1 Billion Into Skydance. What’s His Angle?

Elon Musk has invested roughly $1 billion in Skydance, according to reporting by Semafor, putting fresh money behind a Hollywood studio that’s working hard to cut costs and lift its stock price. The investment adds to the business ties between Musk and the Ellison family. It also raises questions about how much Silicon Valley could reshape the way Hollywood delivers entertainment. Musk’s deal came together around the same time as investments from other Skydance backers, including board member Laurene Powell Jobs, the people said. Semafor reported in September that Paramount was considering an equity investment from Musk. Musk has publicly praised Skydance and the Ellisons. That support fueled speculation about a broader partnership involving Starlink, his low-Earth-orbit satellite network. Billionaire cable executive John Malone suggested at a Paley Center appearance last week that a deal could be coming as traditional television moves toward streaming. “He’s gonna have to re-engineer all of those channels, and figure out how they morph into streams themselves rather than just traditional linear,” Malone said. “I think there’s a deal coming there,” he added. Malone then pointed to ...