John Malone says SpaceX may invest up to $10b in Skydance

Investing.com -- Media mogul John Malone said Wednesday that he expects a deal between Skydance Corp. and Elon Musk's SpaceX.

Speaking at the Paley International Council Summit in New York, Malone said SpaceX could invest $8 billion to $10 billion in Skydance, the Hollywood Reporter said.

"I predict, big prediction, that you'll see a global output deal for Skydance with SpaceX, and an investment by SpaceX into Skydance, to delever Skydance and take a little bit of the burden off David Ellison's shoulders, because he's taking on a pretty big pile of debt," Malone said.

Malone pointed to the relationship between Ellison's father, Oracle Corp. co-founder Larry Ellison, and Musk.

"Who helped Elon finance Twitter when he bought it? Larry Ellison," Malone said. "How did Larry Ellison come up with some of the money to put into the creation of Skydance? Tesla stock. And I would not doubt for a minute that before very long you're gonna see an announcement."

Malone has stepped back from his network of companies, which includes Formula 1-parent Liberty Media Corp. and Liberty Global Ltd., a pay-TV and telecom provider in Europe. He helped arrange Discovery Inc.'s 2022 acquisition of Warner Media and left the board of the combined companies last year.

Skydance acquired Warner Bros. Discovery Inc., the parent of CNN and HBO, in an all-cash deal that was completed earlier this month. Skydance shares have fallen since the deal closed on concerns about the company's nearly $87 billion in total debt.

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