Paramount Skydance has submitted an updated proposal to acquire Warner Bros. Discovery.

Warner Bros. Discovery has set a special shareholders meeting to vote on the proposed Netflix transaction for March 20, while also giving Paramount Skydance till February 23 to make its best and final offer.

Paramount Skydance has sweetened its pitch to Warner Bros. Discovery shareholders, adding an additional $0.25 per share "ticking fee" for each quarter the transaction is not closed beyond December 31, 2026.

Paramount Skydance has extended the deadline for Warner Bros. Discovery shareholders to accept its rival $30-per-share all-cash offer to February 20.

Netflix has revised its deal to acquire Warner Bros., making it an all-cash transaction at $27.75 per share.