The long, grinding process of merging Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) may be about to get a very wealthy helping hand. A new report says the world's richest person has been approached to take equity in the combined company, which would be a plot twist worthy of a streaming drama.

Elon Musk Reportedly Approached for Help

According to Semafor, Elon Musk could join forces with his friend and fellow top 10 billionaire Larry Ellison to help finance the deal between the two media giants. Musk and other wealthy individuals have been considered by Paramount Skydance CEO David Ellison, the report says.

Musk currently sits atop the wealth rankings with a net worth of $959 billion, per Bloomberg estimates. Larry Ellison ranks seventh at $205 billion. That's a lot of zeroes, and apparently a lot of potential check-writing capacity.

The elder Ellison has already personally guaranteed over $40 million of the financing to get the deal done. It's unknown how much Musk and others have been asked to contribute. But the fact that Paramount is reportedly shopping for additional financing could mean the deal is inching closer to clearing its regulatory and legal hurdles, and now just needs the financial plumbing sorted out.

Larry Ellison is no stranger to backing Musk's ventures. He previously invested in Tesla (TSLA) and served on the EV company's board of directors. He also put $1 billion into Musk's Twitter acquisition, helping take the social media company, now called X, private.

Potential Conflicts

A merger already facing concerns about political ties and regulation could get even more complicated with Musk in the mix. Musk spent a significant amount of money on the 2024 presidential election to help get Donald Trump elected and later led the Department of Government Efficiency. A role in the White House helped Musk get around some regulation on companies he leads.

Partial ownership of media outlets like CNN and CBS through the combined merger could give Musk influence over what the press says about him. With ownership of X and several media companies, Musk could have significant control and impact on what the overall media says about himself, the companies he leads, and Trump, of whom he is supportive.

There's also the matter of the documentary film "Musk" from Alex Gibney. Warner Bros. unit HBO holds the streaming and TV rights to the film in North America. Musk has been critical of the film, and if he ends up involved in the new ownership of HBO, he's likely to try and block its future release.

Stock Price Action on Wednesday

Paramount Skydance stock is down 0.35% at $10.08 at publication. Warner Bros. shares are down 0.37% to $30.72 at publication.

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