Paramount Skydance (PSKY) has reportedly raised its offer to buy Warner Bros. Discovery Inc (WBD), the latest move in the battle with Netflix (NFLX) to acquire the firm. 

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The new bid improves on the $30-a-share, all-cash proposal that Paramount took directly to Warner Bros. shareholders on Dec. 8 and addresses some of the company’s concerns with previous Paramount bids, Bloomberg News reported, citing people familiar with the matter. 

Warner Bros in December agreed to sell its film and TV studios and HBO Max business to Netflix Inc. for $27.50 a share. 

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