Elon Musk has pumped $1bn (£746bn) into the Hollywood giant Skydance, handing the billionaire a stake in the newly formed company behind CNN.
The Tesla founder was said to have made the commitment alongside new investment from other shareholders, including Laurene Powell Jobs, the widow of Steve Jobs, the founder of Apple, Semafor reported.
The cash injection will hand Mr Musk influence over Hollywood’s newest conglomerate, which was formed through the $110bn takeover of Warner Bros by Paramount earlier this month.
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