Ancora Opposes Proposed WBD-Netflix Merger after disclosing $200 million stake in WBD

Reuters
2026.02.11 12:09
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Ancora Holdings Group has publicly opposed the proposed merger between Warner Bros. Discovery (WBD) and Netflix, citing its $200 million stake in WBD. Ancora urges WBD's board to consider Paramount's revised offer as a potentially superior proposal, arguing that Netflix's offer includes uncertain cash considerations. They emphasize that Paramount's offer provides significantly more cash, support from the proven Ellison Trust, and a clearer path to regulatory approval.

Feb 11 (Reuters) - Ancora Holdings Group:

  • ANCORA RELEASES PRESENTATION REGARDING ITS STRONG OPPOSITION TO CURRENTLY PROPOSED WBD-NETFLIX MERGER
  • ANCORA: URGES WBD BOARD TO DETERMINE THAT PARAMOUNT’S REVISED OFFER COULD REASONABLY BE EXPECTED TO RESULT IN A “SUPERIOR PROPOSAL”
  • ANCORA: CONTENDS NETFLIX PROPOSAL FOR WBD INCLUDES INFERIOR AND UNCERTAIN CASH CONSIDERATION
  • ANCORA: MAKES CLEAR PARAMOUNT OFFER INCLUDES SIGNIFICANTLY MORE CASH, BACKING OF PROVEN ELLISON TRUST AND A VIABLE PATH TO REGULATORY APPROVAL
  • ANCORA: APPROXIMATELY $200 MILLION ECONOMIC INTEREST IN WARNER BROS. DISCOVERY
  • ANCORA: WBD’S BOARD SHOULD DETERMINE PARAMOUNT’S AMENDED OFFER COULD REASONABLY BE EXPECTED TO RESULT IN “SUPERIOR PROPOSAL”
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