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Paramount had previously said that the Ellison family trust would be backing more than $40 billion of . But Warner's board was last week, arguing that Paramount had “consistently misled� shareholders about the Ellison family's backing because a “revocable trust is no replacement for a secured commitment.�

Paramount took a swipe at that assertion on Monday — maintaining that Larry Ellison holds the majority of the trust's assets and that Warner had not previously asked for a personal guarantee. But nevertheless, the company said, it “elected to address WBD’s current stated concerns.�

Beyond doubling down on Ellison's backing, Paramount also said it would increased its payout if the deal is blocked by regulators. The company is now upping the breakup fee to $5.8 billion — matching what Netflix has already put on the table for its proposed transaction.

The value of Paramount's $30 per share offer otherwise remains unchanged. But the company is extending the window for shareholders to “tender� their shares, with a deadline now set for Jan. 21.

“Paramount has repeatedly demonstrated its commitment to acquiring WBD," Paramount CEO David Ellison said in a statement, adding that his company's offer continues to be “the superior option to maximize value for WBD shareholders.�

Paramount's all-cash bid for all of Warner’s properties — including networks like CNN and Discovery — is valued at $77.9 billion, not including debt. But Warner’s board has to back the cash-and-stock deal it struck with Netflix earlier this month, which would for $72 billion.

The Associated Press reached out to media contacts for Warner and Netflix for further comments on Monday. In a letter to shareholders last week, Warner's board maintained that the terms of the Netflix merger were superior, while “the PSKY offer is illusory.�

Also on Monday, Netflix disclosed that it had refinanced part of its $59 billion bridge loan for its proposed acquisition. A regulatory filing outlined $15 billion in financing between revolving credit and delayed-draw term loans.

Shares of Paramount-Skydance jumped more than 5% in Monday morning trading. Warner Bros. Discovery stock was up almost 3%, while Netflix slipped about 0.7%.