Paramount is upping its hostile takeover bid for Warner Bros. Discovery, extending the deadline and adding a “ticking fee” of 25 cents per share if the deal doesn’t close by year-end. Paramount also pledges to cover Warner’s proposed $2.8 billion breakup payout to Netflix. Shareholders have until March 2 to tender their shares.

Paramount CEO David Ellison emphasizes the company’s commitment to delivering full value for Warner Bros. Discovery shareholders. The offer remains at $30 per share in cash, with a total enterprise value of $108 billion including debt. The deal includes Warner’s networks like CNN and Discovery.

Paramount faces a challenge in gaining shareholder support, as disclosed recent data shows a significant decline. Over 42.3 million Warner shares have been offered, down from over 168.5 million on Jan. 21. Paramount would need over 50% of the 2.48 billion outstanding shares for control.

Warner Bros. Discovery confirms receiving Paramount’s tender offer but maintains support for the Netflix deal. Netflix agreed to buy Warner’s studio and streaming business for $72 billion. The enterprise value of the deal, including debt, is about $83 billion, or $27.75 per share.

Antitrust concerns have been raised worldwide over the Warner sale to either Paramount or Netflix. The U.S. Department of Justice has initiated reviews of both deals. Paramount has secured clearance for its tender offer from authorities in Germany. Paramount argues its offer is superior to Netflix’s bid.

Read more at Yahoo Finance: Paramount sweetens offer for Warner Bros. shareholders in hostile takeover fight