Warner Bros Discovery is considering a sweetened bid from Paramount Skydance in a Hollywood takeover battle against Netflix. The latest offer followed talks to address concerns that led to previous Paramount bids being rejected in favor of Netflix’s $82.7 billion deal for studio and streaming assets.

The Netflix merger agreement remains in effect, but Warner Bros may consider the new Paramount bid. If they do, Netflix will have four days to respond. Either deal will grant the suitor major studios and franchises like “Game of Thrones” and “Harry Potter”.

Paramount has offered to buy all of Warner Bros, including TV assets, for $108.4 billion. It believes the cable assets are almost worthless, while Netflix argues its deal offers better value due to a spinoff of Warner Bros cable assets before the acquisition.

Activist investor Ancora Capital pressured Warner Bros to engage with Paramount, criticizing the board for not considering a superior deal. MoffettNathanson analysts say a $34 per share offer from Paramount could end the bidding war and avoid further debate over Discovery Global’s value.

Discovery Global could fetch between $1.33 and $6.86 per share, according to Warner Bros estimates. A shareholder vote on the Netflix deal is scheduled for March 20.

Read more at Yahoo Finance: Warner Bros weighing revised bid from Paramount as bidding war escalates