12:35 PM EDT, 04/29/2024 (MT Newswires) -- Paramount (PARA) was up nearly 4% in recent trading Monday after Skydance Media raised its buyout offer by $3 billion in cash for Paramount to pay down debt, buy back stock and fund other activities, according to multiple media reports.

The revised bid is also aimed at attracting Paramount investors who balked at prior Skydance efforts believing a deal would enrich Shari Redstone, the daughter of Paramount founder Sumner Redstone and controlling shareholder, at their expense, the New York Times reported Monday, citing two people with knowledge of the proposal. Deadline also said Skydance made a new proposal, without providing other details.

Price: 12.34, Change: +0.43, Percent Change: +3.61