Activist investor Ancora Capital opposes Warner Bros Discovery’s deal with Netflix, citing inferior value and regulatory risk. Paramount Skydance offers higher value for the entire company, including cable assets like CNN and TNT. Paramount and Netflix compete for Warner Bros’ valuable film and TV studios and franchises. Paramount sweetens bid for Warner Bros investors, emphasizing clearer path to regulatory approval than Netflix. Warner Bros plans shareholder vote in April for Netflix deal. Bidding war centers around spin-off of cable assets crucial to Netflix deal. Warner Bros board favors Netflix acquisition, while Paramount argues cable assets are worthless.

Read more at Yahoo Finance: Ancora Capital builds stake in Warner Bros, plans to oppose Netflix deal