US EditionActivist investor Ancora to oppose Netflix-Warner Bros deal, backs Paramount bid
Ancora Holdings, owning nearly $200 million in Warner Bros shares, opposes the $82.7 billion Netflix deal citing regulatory risks and supports Paramount’s higher $108.4 billion bid.
- 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.
20 Articles
20 Articles
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.
Small Warner Bros. Discovery Shareholder Blasts ‘Flawed, Inferior’ Netflix Offer and Backs Paramount’s Hostile Bid — but Will It Matter?
Ancora Holdings Group, an activist investor, slammed Warner Bros. Discovery's Netflix deal and supports Paramount Skydance's hostile takeover offer.
Activist Investor Slams WBD For Rushing Into “Flawed” Netflix Deal, Tells Board To Engage With Paramount As Temperature Rises
Activist investor and Warner Bros. Discovery shareholder Ancora Alternatives LLC threatened to vote ‘no’ on the Netflix deal and launch its own proxy fight if the WBD board does not engage with Paramount. The David Ellison company Tuesday sweetened its hostile takeover offer for Warner in its latest attempt to derail the company’s agreement with […]
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