Activist Investor Ancora Said to Build Stake in Warner Bros. (1)

Activist investor Ancora Holdings Group has built a position in Warner Bros. Discovery Inc., according to people familiar with the matter who asked not to be identified because the information wasn’t public.

The size of the stake and Ancora’s plans couldn’t immediately be learned. Representatives for Ancora and Warner Bros. didn’t immediately respond to requests for comment.

After Bloomberg News reported that Ancora had amassed a stake, the Wall Street Journal reported that the activist is planning to oppose Warner’s deal to sell its movie and television studios and HBO Max streaming service to Netflix Inc.

Warner Bros. has ...