Aug 12 (Reuters) - Paramount Skydance ( PSKY ) is keeping

all options, including a possible sale of CNN, "on the table" to

resolve California's antitrust suit challenging its $110 billion

acquisition of Warner Bros Discovery ( WBD ), the company's

chief legal officer said.

Speaking at Politico's California Agenda conference on

Tuesday, Makan Delrahim also became the first Paramount

executive to publicly acknowledge the Los Angeles-based company

may leave California, after recent media reports cited unnamed

sources about a potential relocation.

Here are some more details:

* Asked whether Paramount might quit the state, Delrahim

said there is "a point at which where you have a duty, a

fiduciary duty to your shareholders, and those are the factors

you consider."

* Referring to California's likely next governor, former

U.S. health secretary Xavier Becerra, he said, "If I was

governor, I wouldn't want to lose Hollywood from the state. I

wouldn't want to lose a major company like Paramount to another

state."

* The exchange came days after Britain cleared the takeover,

extracting five-year guarantees on programming and editorial

independence for Channel 5 news from CNN International and CBS

News.

* That UK approval left the California-led litigation as the

deal's last major regulatory obstacle, following clearances from

U.S. federal regulators, China and other jurisdictions.

* California Attorney General Rob Bonta and 11 other state

attorneys general are seeking to block the merger, arguing it

would create a "media behemoth" able to raise prices and reduce

competition in film and television markets.

* The states have dismissed Paramount's pledge to release 30

films a year as unenforceable and said the company would still

be in a position to raise prices and decrease quality after the

merger even if it stuck to that promise.