Warner Bros. Is Said to Ask Bidders to Submit Sweetened Offers

Warner Bros. Discovery Inc., the parent of HBO and CNN, has asked potential buyers to submit new, sweetened offers after receiving an initial round of bids, people familiar with the matter said.

The company, which put itself up for sale last month, has asked the bidders to provide improved offers by Dec. 1, said the people, who asked not be identified discussing the confidential proceedings.

Paramount Skydance Corp., Comcast Corp. and Netflix Inc. are all vying to buy some or all of Warner Bros. and submitted bids for the company last week to meet an initial deadline.

After ...