Does Elon Musk Now Partly Own CNN? Reported $1 Billion Deal Links Him to Network That Has Long Scrutinised Him

Elon Musk has reportedly invested $1 billion (£750 million) in Skydance, the media giant behind CNN. The deal, revealed on 22 October 2026, could give the billionaire a financial stake in one of the news networks that has frequently scrutinised him.

The reported investment comes weeks after Skydance completed its takeover of Warner Bros. Discovery, bringing CNN and a collection of major entertainment businesses under its corporate umbrella. Although neither Musk nor Skydance has publicly confirmed the transaction, the development has already raised questions about the relationship between powerful technology billionaires and the media organisations that cover them.

Musk's Indirect Link to CNN

Musk has not reportedly purchased CNN directly. Instead, the reported $1 billion investment is in Skydance, the parent company that acquired Warner Bros. Discovery.

The merger brought CNN into the same corporate group as CBS, Paramount Pictures, Warner Bros. and HBO, alongside their associated streaming businesses. A stake in Skydance would give Musk an indirect financial interest in CNN rather than direct ownership of the news network itself.

The distinction matters because owning shares in a parent company does not automatically grant an investor control over the editorial decisions of every organisation within it. The precise terms of Musk's reported investment, including any voting rights or influence over company decisions, have not been publicly detailed.

Skydance is led by David Ellison, the son of Oracle co-founder Larry Ellison, who has longstanding business ties with Musk.

Musk and the Ellison Connection

The reported investment follows years of financial connections between Musk and the Ellison family. Larry Ellison invested $1 billion in Musk's acquisition of Twitter in 2022, when the social media platform was purchased for approximately $44 billion (£33 billion) and later renamed X.

Ellison also invested in Tesla and served on its board of directors for several years. His son, David, now leads Skydance as it attempts to strengthen the company's finances following its enormous media acquisition.

The reported investment comes as Skydance faces substantial debt and seeks fresh capital to support its operations and cost-cutting plans.

Media executive John Malone had suggested earlier in October that a deal involving Musk could be forthcoming, pointing to the billionaire's close relationship with the Ellisons. However, a broader partnership involving Musk's companies and Skydance has not been formally established.

Why the Reported Deal Has Raised Concerns

Musk's potential connection to CNN is attracting attention because of his contentious relationship with traditional news media. The Tesla and SpaceX chief has repeatedly criticised journalists and news organisations, while presenting X as a platform for free speech and challenging established media narratives.

CNN, meanwhile, has covered Musk's businesses, public statements and political activities extensively over the years. The prospect of Musk becoming a shareholder in CNN's parent company has consequently prompted concerns about whether powerful investors could eventually influence the organisations responsible for reporting on them.

Still, there is currently no confirmed evidence that the reported investment gives Musk editorial control over CNN or that he has sought to direct its coverage. The deal also does not mean that CNN has become part of X or that the two platforms have announced a formal content partnership.

What Comes Next

If the reported investment is confirmed, its significance will depend partly on the terms of the transaction and the level of influence Musk receives within Skydance. The company has previously indicated that its news organisations would maintain editorial independence, although the practical implications of its new ownership structure will continue to attract scrutiny.

For now, the reported $1 billion investment represents a potential financial connection between Musk and CNN's parent company, rather than a direct takeover of the network. Whether that relationship eventually leads to broader collaboration between Musk's technology empire and Skydance remains uncertain.