Warner Bros Discovery's board wants Paramount Skydance to sweeten its latest bid of $23.5 per share to about $30 apiece, Axios reported on Tuesday, citing sources familiar with the matter.

Paramount's offer was for 80% in cash and 20% in stock, Axios reported. The companies did not immediately respond to Reuters' requests for comment on the report. At $30 per share, Warner Bros Discovery would be valued at $74.34 billion. That's up from Paramount's current offer of $58.23 billion.

Earlier in the day, Paramount said Variety's report on the company forming an investment consortium with the sovereign wealth funds of Saudi Arabia, Qatar and Abu Dhabi to submit a total $71 billion bid for Warner Bros Discovery was "categorically inaccurate." Separately, the Financial Times also reported on Tu

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