The studio is considering moving its headquarters and parts of a $30 billion investment plan out of California as 12 states, led by California Attorney General Rob Bonta, sue to block Paramount’s takeover of Warner Bros. Discovery

California is among the states suing to block Paramount from buying Warner Bros. Discovery in a Hollywood mega-merger that would unite some of the nation's largest movie studios…

The deal already cleared federal regulators, but now faces a challenge from a coalition of 12 states.

California and eleven states are suing to block Paramount's acquisition of Warner Bros. Discovery. They allege the deal would lessen competition in film distribution and cable…