Warner Bros Discovery has urged shareholders to reject a $108.4bn hostile takeover offer from Paramount Skydance, branding it “inadequate” amid an extraordinary corporate battle to control the legacy media conglomerate.WBD agreed to sell its storied movie studios, HBO cable network and streaming service to Netflix in a$82.7bn deal earlier this month, setting the stage for a seismic shift in Hollywood’s industrial landscape.But Paramount, which had privately bid for WBD before the Netflix deal was unveiled, ...