Paramount Skydance (NASDAQ:PSKY) has reportedly increased its bid for Warner Bros Discovery (NASDAQ:WBD), intensifying the competition for one of the most coveted assets in Hollywood.

Paramount has submitted a higher bid than its initial $108.4 billion, or $30 per share, offer for Warner Bros., aiming to ease concerns over the certainty of its financing, reported Reuters on Monday. However, the publication did not mention more details about the revised bid.

Warner Bros. had earlier mentioned that Paramount had unofficially submitted a bid of $31 per share.

A late Monday report from Variety suggested that Warner Bros is likely to consider the Paramount offer while still recommending ...