Paramount Skydance (PSKY) is expected to submit a higher bid for Warner Bros. Discovery (WBD) by a Monday deadline as it seeks to outbid Netflix (NFLX), Variety reported.

Paramount's revised proposal is likely to come in at $32 per share, above its earlier $30 per share proposal, according to the report.

After a new offer is submitted, Netflix will have four days to match the bid or walk away from the potential deal, the report said.

Paramount Skydance did not immediately respond to a request for comment from MT Newswires.

Shares of Paramount Skydance were 0.8% higher in recent Monday premarket activity, while Netflix fell 0.8% and Warner Bros. Discovery rose 0.9%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)