Ancora threatens to launch proxy fight over WBD-Netflix deal
Big moves in the streaming world: Activist investor Ancora just grabbed a $200 million stake in Warner Bros. Discovery (WBD) and is pushing back against WBD's $82.7 billion enterprise-value deal with Netflix (reported elsewhere as a $72 billion equity value).
Instead, they're rooting for Paramount Skydance's rival all-cash offer, which has been reported as valuing WBD at $108.4 billion (other reports put it near $78 billion).
If WBD ignores Paramount, Ancora says they're ready to launch a proxy fight to shake up the board.
What does this mean for you, the viewer?
This showdown could totally change who calls the shots at WBD—and what happens to your favorite franchises like HBO, DC, and WBD's broader media library as cable TV fades out.
Paramount is making its bid extra tempting with bonus payouts and covering breakup fees if the Netflix deal falls through.
The outcome here will shape where your go-to movies and shows end up streaming next, so it's worth keeping an eye on how this power struggle plays out.