Paramount sounds out Elon Musk as an investor to complete the purchase of Warner Bros. Discovery
Article excerpt
Paramount is considering adding Elon Musk to a syndicate of investors to finance the 111 billion dollar purchase of Warner Bros. Discovery. Paramount wants to add financial muscle before completing the acquisition of Warner Bros. Discovery, and Elon Musk appears among the names the company would be evaluating to contribute capital. The possibility has not yet translated into a formal agreement, nor is it known how much money the businessman could contribute, but it fits the dimension of an operation valued at 111 billion dollars. The information comes from Semafor, which cites people familiar with the matter. According to that report, Paramount executives have analyzed asking Musk to be part of a syndicate of capital investors, a formula with which the company seeks to raise additional liquidity to face the integration of Warner Bros. Discovery. The name of the founder of Tesla and SpaceX would not be the only one being considered by David Ellison, CEO of Paramount Skydance. The company would be exploring the participation of several high-net-worth individuals, although Musk's economic capacity and public notoriety make him a particularly striking candidate. For now, there is no confirmation that Musk will invest in Paramount. Nor has a specific amount been made public, nor have the conditions of a possible entry into the shareholding been detailed. The approach is in a...
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Paramount has committed to releasing at least 30 films in theaters annually for the next two years and to allocating an additional 300 million dollars each year, for a period of five years, to film production in the United States.
