Paramount Skydance is arguing that its $110 billion merger with Warner Bros. Discovery is necessary for it to compete with streaming giants Amazon, Disney and Netflix, and that the mega-deal will bring “new competitive” energy to the entertainment biz. The argument came in a letter Paramount’s chief legal officer Makan Delrahim sent to California Attorney General Rob Bonta on May 7 “in response to certain misinformation about the marketplace expressed in recent public commentary.” The letter,