STORY: Paramount Skydance on Monday sued Warner Bros Discovery for more information on a rival deal worth nearly $83 billion with Netflix.
The move escalates a battle to take control of one of the most storied Hollywood studios.
The David Ellison-led company also said it plans to nominate directors to Warner Bros Discovery's board.
This is one of its most aggressive steps yet to convince shareholders that its hostile bid is superior to the offer from Netflix.
The CBS parent and Netflix have been in a heated battle for Warner Bros, its prized film and television studios, and its extensive content library that includes "Harry Potter" and the DC Comics universe.
In a letter to shareholders, Paramount also said it would propose an amendment to Warner Bros' bylaws that would require shareholder approval for any separation of the media giant's cable TV business, which is key to the Netflix deal.
The amended offer had included $40 billion in equity personally guaranteed by Oracle's co-founder Larry Ellison, the father of Paramount CEO David Ellison.
Netflix and Warner Bros did not immediately respond to requests for comment.
Warner Bros Discovery shares fell as much as 2% in morning trading while Paramount and Netflix rose about one percent each.
