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Update: Market Chatter: US States Preparing to Challenge Paramount Skydance's Warner Bros. Deal

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(Updates with Paramount's response in the third and fourth paragraphs.)

A group of US states is preparing a lawsuit to block Paramount Skydance's (PSKY) $110 billion acquisition of Warner Bros. Discovery (WBD), Reuters reported, citing two people familiar with the matter.

California Attorney General Rob Bonta said his office will decide soon whether to join the legal action, the report added.

Blocking the deal would harm consumers, creators and workers while handing an undeserved competitive edge to established players like Netflix, the very opposite of what antitrust law is designed to do, a Paramount spokesperson said in an email to.

"We will continue to fight against any attempt to derail a deal that plainly benefits consumers, creators, and the industry as a whole," the spokesperson added.

The California Department of Justice and Warner Bros. didn't immediately reply to' request for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $10.14, Change: $-0.55, Percent Change: -5.10%

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