JPMorgan Chase & Co. leads a banking group that has increased a leveraged loan offering for Warner Bros. Discovery to about $10.2 billion, according to reports. The financing is intended to help the media company refinance short-term debt as its planned acquisition by Paramount Skydance Corp. approaches. The loan terms and size appear to reflect the company’s need for liquidity ahead of the merger, with one report describing the increase to $10 billion and another citing a total of $10.2 billion. The proposed deal would combine Paramount Skydance and Warner Bros. Discovery, subject to customary approvals and conditions. The reports characterize the loan as part of Warner Bros. Discovery’s broader efforts to position its balance sheet before the transaction. Neither report indicates that the merger terms themselves have changed, but both frame the financing as a preparatory step tied to the timing of the merger and associated debt obligations.