Warner Bros. Discovery shareholders have been asked to hold off on taking any action on Paramount Skydance's amended $30-per-share offer pending the board's review of the proposal.

Paramount Skydance Corporation has updated its all-cash offer for Warner Bros. Discovery to include an irrevocable personal guarantee from Larry Ellison.

Paramount is continuing to tout the benefits of its all-cash $30-per-share offer to shareholders of Warner Bros. Discovery, whose board has unanimously rejected the proposal in favor of Netflix's.

Paramount has made the case for its proposed acquisition of Warner Bros. Discovery in a letter to the company's shareholders, arguing it delivers "superior value and a faster, more certain path to completion than the Netflix transaction."

Paramount has made a hostile takeover bid for Warner Bros. Discovery with an all-cash tender offer for $30 per share, representing an enterprise value of $108.4 billion.