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

+0.41%

-0.87%

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Netflix, Inc.

NFLX

94.69

+0.41%

Paramount Skydance Corporation Class B

PSKY

9.71

-0.87%

Warner Bros. Discovery, Inc. Series A

WBD

27.04

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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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