Paramount’s plan to bring in Elon Musk as an equity investor for its Warner Bros. Discovery takeover has sparked a wave of angry and sarcastic reactions online. The news came just days after Paramount settled an antitrust lawsuit with 12 state attorneys general, clearing the path for the $111 billion merger. Musk’s possible involvement has added fuel to an already heated situation, with many social media users calling the whole thing a “s**t show.”
Musk’s Name Comes Up for Paramount Investment
Executives at Paramount have discussed asking Elon Musk to join a syndicate of equity investors into the company, according to an exclusive report from Semafor published on September 23, 2026. Paramount CEO David Ellison has considered tapping several wealthy individuals, and Musk’s name is one of them. The size of a potential Musk investment could not be determined. Paramount declined to comment, and Musk did not respond to requests for comment.
The connection between Musk and the Ellison family runs deep. Larry Ellison, David’s father and the founder of Oracle, invested $1 billion in Musk’s 2022 deal to take X (formerly Twitter) private. He also invested in Tesla in 2018 and served on its board of directors for years. Larry Ellison has personally guaranteed more than $40 billion of the equity financing for Paramount’s acquisition of Warner Bros..
What the Paramount-Warner Bros. Deal Means
Paramount’s deal to merge with Warner Bros. Discovery is close to the finish line. The company reached a settlement with 12 state attorneys general on September 21, 2026, to resolve an antitrust lawsuit over the deal. A judge has scheduled a hearing for Thursday to review the proposed consent decree, and pending approval, the merger is expected to close in about two weeks.
The deal carries a price tag of $111 billion, making it one of the largest media mergers in Hollywood history. Paramount agreed to buy Warner Bros. Discovery for $31 per share in cash. The combined company would bring together CBS, CNN, HBO, Paramount Pictures, and Warner Bros. Studios under one roof.
If Musk does invest, he would hold a stake in two of the largest television news operations in the United States: CNN and CBS. The merger’s $47 billion of equity financing already includes contributions from three Middle Eastern sovereign wealth funds and LionTree Investment Fund. Foreign investors will own 49.5% of the non-voting equity in Paramount.
Why People Are Calling It a “Sh*t Show”
The online reaction to Musk’s possible involvement has been overwhelmingly negative. A fan described the news story as a “s**t show”. Another fan declared they would stop supporting Paramount and WBD projects.
The frustration builds on existing anger. Many fans were already unhappy that the Paramount-WBD deal went ahead after the parties settled with the state AGs. The Ellison family’s ties to the current US president have been a major point of contention, with critics viewing the deal as a way to enable right-wing political propaganda.
Variety reported that workers on both the Paramount and WBD sides were stunned by the settlement between the state AGs and the Ellisons. According to staffers on both sides, whether the reality of a merged company has produced relief or anxiety “depends on where you sit”.
Journalists and Media Figures Speak Out
Media professionals have also weighed in on Musk’s possible stake in CNN and CBS. Media columnist Justin Baragona pointed out on X that an investment could give Musk a stake in both networks, posting simply: “Welp”.
Former CNN White House correspondent Jim Acosta responded with a sinking-face emoji.
Chicago newscaster Brandon Pope told his social media followers the possibility was “horrendously bad for journalism”. Documentary executive producer Laila Al-Arian asked: “What could go wrong when oligarchs own media outlets?”.
Twitch streamer Caroline Kwan reposted the report and shared her thoughts on X: “wow it keeps… getting worse”.
Inside CNN, the reaction was described as immediate and unhinged. CNN staffers are already in a panic about potential layoffs and who will be in charge of the network once David Ellison takes over, sources told The New York Post.
“Amazing it comes out now of course,” a CNN source said of the Musk news, adding that it is a bad look for California Governor Gavin Newsom, who backed the deal as he feared Paramount could exit the state.
“When it rains…[it pours],” another CNN source said. “It’s really scary given what he did at X and DOGE”.
Mixed Reactions from Musk Supporters
Not everyone reacted with alarm. Some Musk supporters found the situation entertaining. Ryan Fournier wrote on X:
“LMAO! Paramount CEO is reportedly asking ELON MUSK to join the Paramount-WBD merger. This means Elon would have an ownership stake in both CNN AND CBS. You can’t make this stuff up. The meltdowns are going to be legendary!”
Another X user posted: “Paramount is reportedly considering bringing Elon Musk in as an equity investor as it combines with Warner Bros. That would potentially give Elon an ownership stake in the same media empire that includes CBS, CNN, HBO, Paramount and Warner Bros. Just imagine the absolute meltdown if this actually happens”.
The Financial Side of the Deal
The financial machinery behind the merger is already in motion. Paramount has started syndication for a proposed senior secured term loan of $7.5 billion as part of the package to fund the acquisition. The company intends to raise approximately $44.4 billion of additional secured debt. Bank of America, Citigroup, and Apollo underwrote the buyout debt package, one of the biggest ever.
Larry Ellison has committed to backstop over $40 billion in equity financing for the mega-deal. A trio of Middle Eastern sovereign wealth funds led by Saudi Arabia agreed to come on as investors, and they will wind up with a combined equity stake of just under 50% in the combined company. Saudi Arabia’s Public Investment Fund will hold a 15.1% stake, the UAE’s L’imad Holding Company will hold 12.8%, and the Qatar Investment Authority will hold 10.6%.
An investment from Musk could reduce Larry Ellison’s financial burden and give Paramount a more diversified investor base. Semafor noted that a check from Musk would be a significant vote of confidence from a businessman who has a devoted retail investor following.
Stock Market Reacts
The news spooked shareholders. Paramount shares fell modestly in the closing minutes of Wednesday’s trading. Paramount stock has seen a 47.12% loss in its share price over the past year.
The possibility of Musk having even partial ownership in CNN and CBS would likely raise alarm bells in Washington, Semafor noted, even though it is unlikely Musk would have formal input over the company’s operations. Democrats were already concerned about Musk’s money and political influence during the 2024 election, given his control of X.
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What the Settlement Included
As part of its settlement with California Attorney General Rob Bonta, Paramount pledged to create independent editorial boards for both CBS News and CNN, though it has not shared details on what powers these boards will have. Layoffs were not addressed in detail by the California settlement, and employees at both companies fear major job cuts in the months ahead.
The judge in the case must still approve the settlement, called a consent decree. The hearing was scheduled for Thursday to address outstanding questions about the factual and legal underpinnings of the proposed agreement.
For more updates on the Paramount-Warner Bros. merger and its impact on the entertainment world, check out our latest coverage on VvipTimes.
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