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Warner Bros Discovery has urged its shareholders to reject Paramount Skydance’s $108.4 billion (£80.75bn) takeover offer, in a dramatic development in the ongoing battle for control of one of Hollywood’s most storied studios. Paramount had argued that its bid was “superior” to the $72 billion deal Warner Bros reached with Netflix for its film and streaming businesses. However, Warner Bros Discovery’s board has “unanimously” recommended shareholders turn down Paramount’s offer