Warner Bros. Discovery Inc. (WBD) shares ticked up in after-hours trading Monday as the bidding war for the media giant enters what might be its final chapter.

What's Happening: Warner Bros. Discovery, which has been exploring strategic options including a potential sale, received a fresh round of offers from major players, according to Bloomberg. This time, Netflix Inc. (NFLX) came to the table with a mostly cash proposal backed by a bridge loan that could reach into the tens of billions of dollars. That's no small commitment considering Warner Bros. closed Monday with a market cap north of $59 billion.

The bidding landscape has some interesting contours. Netflix and Comcast (CMCSA) are taking a selective approach, targeting only Warner's studio operations and the HBO Max streaming platform. Meanwhile, Paramount Skydance has thrown its hat in the ring with a bid for the whole enchilada.

People familiar with the situation told Bloomberg that the auction could reach a conclusion as soon as this week, suggesting we're in the home stretch of what's been a complex process.

Price Movement: Warner Bros. Discovery shares climbed 0.75% in extended trading Monday, hovering around $24.05.