“I would not doubt for a minute that before very long you’re going to see an announcement,” cable billionaire John Malone said on Tuesday.

Two days later, Semafor reported that Elon Musk had invested roughly $1bn in Skydance, the media group David Ellison formed from Paramount and Warner Bros. Discovery. Rohan Goswami’s scoop cited people familiar with the matter.

CNBC then reported the same figure, citing its own source. Representatives for Musk and Skydance did not immediately respond to either outlet. TNW has not independently confirmed the deal.

Cash for a company cutting costs

The Musk Skydance investment came together around the same time as new equity from other investors, including board member Laurene Powell Jobs, Semafor reported. In September, it reported that Paramount had considered asking Musk for an equity injection.

Paramount closed its takeover of Warner Bros. Discovery on 6 October and took the Skydance name . The company is targeting $6bn in cost savings over three years.…