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Telecommunications & Media

Elon Musk to invest $1 billion in Skydance as funding draws attention

Elon Musk is reported to have invested about $1 billion in newly created media company Skydance. The investment was reported days after Paramount acquired Warner Bros. Discovery for $110 billion and launched an integrated company. The new entity is combining platforms and networks including Paramount+, HBO Max, CBS and CNN. Musk’s funds were reported to coincide with additional contributions from existing investors, with Laurene Powell Jobs also involved.

Telecommunications & Media

YouTube and TikTok emerge as rivals, adding to Netflix\'s new growth dilemma

Netflix released its third-quarter results on Oct. 20 and showed its ability to generate profits remains intact, but the market reaction was negative. Revenue rose 12 percent to $12.9 billion, while growth was the weakest in three years. Concerns over viewing-time growth, especially in the United States and Canada, weighed on sentiment. The company also faces competition from YouTube and TikTok and a lack of new hits.

AI & Enterprise

Google AI news partnerships pass 400 outlets as CNN joins

CNN, the Financial Times and Axios have joined Google’s news programme, agreeing to provide their content for generative AI features in exchange for payment. Bloomberg reported on Oct. 15 that participating media outlets now number more than 400 worldwide. Google began the programme as a pilot last year with partners including The Washington Post. Google said its new AI features will include attribution and direct links so readers can reach original sources.