Media mogul John Malone thinks a deal could be brewing between Elon Musk’s SpaceX (SPCX) and entertainment giant Skydance Corporation (SKYD). Malone floated an $8 billion to $10 billion investment figure, including a global output deal for Skydance and a SpaceX investment. This is expected to help Skydance, which has accumulated a mounting debt burden after its Warner Bros. Discovery acquisition.
While it’s less clear how SpaceX benefits from the deal, two factors could be at play: first, Musk has an established business relationship with Larry Ellison, Skydance co-CEO David Ellison’s father. Next, SpaceX wants to grow its Starlink internet service and has been acquiring broadcast spectrum. CBS, which owns numerous local stations, could be a potential fit for that strategy.
