Paramount Eyes Elon Musk Investment

Paramount executives have discussed asking Elon Musk to join the equity-investor group backing Paramount’s acquisition of Warner Bros. Discovery. Paramount has also settled antitrust claims with 12 state attorneys general, removing a major obstacle to the deal. The possible approach to Musk is part of Paramount’s push to raise more cash before closing. Oracle co-founder Larry Ellison has personally committed to backstop more than $40 billion of the equity financing, and he has long done business with Musk. Critics and employees worry Musk could influence CBS and CNN. A trio of Middle Eastern sovereign wealth funds led by Saudi Arabia has agreed to invest. The deal still needs approval from the federal judge overseeing the consent decree.