US EditionActivist investor Ancora to oppose Netflix-Warner Bros deal, backs Paramount bid
Ancora Holdings, with a $200 million stake, opposes Netflix's $82.7 billion Warner Bros deal, backing Paramount's $30 per share offer citing regulatory risks and shareholder value concerns.
- On Feb 11, Ancora Holdings built a stake in Warner Bros Discovery and said it plans to oppose the sale to Netflix, signalling support for Paramount Skydance's improved rival offer.
- Ancora criticised Warner Bros' board for insufficient talks with Paramount Skydance, saying, `WBD is asking shareholders to vote for an uncertain final cash consideration based on an unknown debt allocation and an unknown equity value.`
- Ancora holds a nearly $200 million stake in Warner Bros, which has a market capitalization of about $68 billion, implying less than 1% ownership, and said it plans to oppose the Netflix deal.
- Regulators review both bids, and Ancora said it will vote against the Netflix deal at a shareholder meeting expected by April unless the Warner Bros board reverses its support.
- Ancora warned that the Netflix deal poses antitrust risks because it would make Netflix the largest streamer with roughly half a billion subscribers, while Paramount stressed its clearer regulatory path versus Netflix's $27.75 per share, or $82.7 billion including debt, proposal.
32 Articles
32 Articles
Asset management firm Ancora owns about $200 million worth of Warner shares and is now actively trying to influence the media company's decisions. Ancora wants Warner to be controlled by Paramount instead of Netflix.
Activist Ancora Urges Warner Board to Reject Netflix Bid
Activist investor Ancora Holdings Group is urging the board of Warner Bros. Discovery Inc. to reject the offer by Netflix Inc. and reconsider a competing bid by Paramount Skydance Corp., adding a new plot twist to one of Hollywood’s biggest takeover battles.
Investor Urges Warner Bros. To Consider Paramount Deal, Reject Netflix
Cleveland-based wealth management firm Ancora Holdings, a company with a $200 million stake in Warner Bros, is reportedly urging the company to reconsider the acquisition offer from Paramount. Warner Bros. accepted a massive deal from Netflix worth $82.7 billion, as The Daily Wire previously reported in December. Paramount has since submitted a hostile takeover bid in an effort to subvert the Netflix deal. That all-cash offer, the sixth made by …
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