Instagram head Adam Mosseri said that there can be problematic usage of social media, but he disagreed that it constitutes an addiction. Mosseri testified in Los Angeles Superior Court during a social media trial over allegations that Meta, YouTube, TikTok and Snap misled the public about safety.
Ancora is putting pressure on Warner Bros Discovery Inc (NASDAQ:WBD, XETRA:J5A), threatening to vote against the company's proposed transaction with Netflix Inc (NASDAQ:NFLX, XETRA:NFC) and launch a proxy contest if the board does not engage with an enhanced competing bid from Paramount. In a statement, Ancora argued that WBD's board should determine that Paramount's revised proposal, unveiled on Tuesday, “could reasonably be expected to result in a Superior Proposal,” which would allow the company to reopen talks and seek a higher-value outcome for shareholders.
Netflix's $82.7 billion bid to acquire Warner Bros. Discovery (WBD) is facing significant new resistance.
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.
Netflix (NASDAQ: NFLX) opened 2026 with a prediction that it would crush the S&P 500 through 2030.
Activist investor Ancora Capital has built a stake in Warner Bros Discovery and plans to oppose the media company's deal with Netflix for its studios and streaming assets, the latest twist in the heated Hollywood takeover battle.
Ancora has built a roughly $200 million stake in Warner Bros. Discovery and favors a deal with David Ellison's Paramount Skydance.
Netflix faces DOJ investigation over its proposed $82.7 billion Warner Bros acquisition, but the streaming giant calls it "ordinary course of business."
Netflix Inc (NASDAQ:NFLX) stock has been mired in an extended pullback, which wasn't helped by a post-earnings drop on Jan. 21.
Netflix (NFLX) has faced difficulties in the past. Its stock has decreased by over 30% in less than 2 months on as many as six separate occasions in recent years, resulting in a loss of billions in market value and wiping out significant gains in a single correction.
Netflix ( NASDAQ:NFLX ) won the streaming wars that exploded after the pandemic, outlasting a surge of competitors to stand as the only major service delivering consistent profits.
The Justice Department is investigating whether Netflix has engaged in anticompetitive practices in its probe of the streamer's proposed tie-up with Warner Bros. Discovery, according to a report Friday.