On February 11, 2026, Ancora Holdings Group, LLC announced that it has released a presentation regarding its strong opposition to the currently proposed merger involving Warner Bros. Discovery, Inc. and Netflix, Inc. In addition, Ancora Holdings stated that it contends the Netflix Proposal includes inferior and uncertain cash consideration, the likely debt-laden Discovery Global spinoff and a Hail Mary path to regulatory approval, and details the risks to creative production, jobs and the future of human talent under a seemingly monopolistic merger transaction. Further, Ancora stated that it makes clear that the Paramount offer includes significantly more cash, the backing of the proven Ellison Trust and a viable path to regulatory approval, and Paramount is proposing to give shareholders real financial certainty with $30 per share in cash.
Furthermore, Ancora urges the Company Board to determine that Paramount?s revised offer could reasonably be expected to result in a superior proposal and engage with Paramount to secure a value-maximizing outcome for all shareholders, and Ancora stated that if the Company Board refuses to re-engage with Paramount in pursuit of a value-maximizing outcome, it will vote no on the Netflix deal and seek to hold the Company Board accountable at the 2026 Annual Meeting.
