Team Ellison could choose to fan political divisions (a risky move), it could cut a deal with the state AGs or even renegotiate the terms of its $111 billion acquisition.

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…

The lawsuit is a serious threat to Paramount CEO David Ellison's bid to transform his company into a major competitor to Netflix and Disney.