Elon Musk reportedly invests roughly $1 billion in David Ellison’s Skydance

Elon Musk invested roughly $1 billion in David Ellison’s Skydance, Rohan Goswami reported for Semafor, citing people familiar with the matter. Semafor describes the reported funding as a financial injection while Skydance looks to cut costs and bolster its stock price.

The funding came together at roughly the same time as equity investments from other Skydance backers, including board member Laurene Powell Jobs, Semafor reports. Skydance completed its acquisition of Warner Bros. Discovery on Oct. 6, TheWrap reports. TheWrap puts the deal at $81 billion in equity value for Warner Bros. Discovery.

A larger tie-up involving Musk’s Starlink is a separate possibility, not part of the reported investment. Cable executive John Malone predicted a further deal involving SpaceX and Skydance, with Starlink as a potential distribution partner, . TheWrap says it had no confirmation of a broader SpaceX-Skydance partnership and could not identify whether Musk invested personally or through SpaceX, or the size of any resulting ownership stake.