Activist investor

words.Scully Royalty Ltd. (SRL) announced that activist MILFAM LLC’s dissenting proxy to nominate five directors for the Dec. 27 AGM fails to meet the company’s advance‑notice rules and will not be considered. MILFAM is pursuing a Cayman court ruling on the notice’s validity, but any votes for its slate are deemed ineffective. Shareholders should review the SEC‑filed proxy statement and vote using the “white” proxy for the management nominees. The dispute highlights governance tensions in the royalty sector and could affect short‑term stock volatility, while SRL’s stable $150 million cash‑flow portfolio supports a 6‑7% dividend yield and growth strategy.

This report summarizes five key market stories. First, AI startup Anthropic is navigating regulatory debates, facing criticism over its stance on AI legislation. Second, Netflix’s Q3 earnings missed estimates due to a tax dispute, but it’s expanding into merchandise. Third, Warner Bros. Discovery indicates potential sale amid restructuring and streaming price hikes. Fourth, consumers are experiencing “discount burnout,” impacting Black Friday expectations. Finally, Jana Partners partnered with Travis Kelce to acquire a stake in Six Flags, aiming to enhance shareholder value and guest experience.