Details of offer not immediately available as Paramount looks to beat rival Netflix for control of Warner Bros

Paramount Skydance has increased its bid for Warner Bros Discovery, Reuters reported on Monday, raising the stakes in the bidding war for the historic studio and its broadcast and cable TV assets in an effort to beat out rival suitor Netflix.

It could not immediately be determined how the bid was revised. Warner Bros and Paramount declined to comment, while Netflix could not immediately be reached.