California attorney general Rob Bonta’s office released on Monday the terms of the settlement Paramount Skydance reached with 12 states to clear its $110bn merger with Warner Bros.

Discovery, reported earlier by Bloomberg and Reuters. The agreement, pending court approval, requires the company to release at least 30 films a year for five years — 20 of them wide releases in the first two years — to spend an extra $1.5bn on US production and to create a $47.5m fund for displaced workers, alongside an independent monitor and separate negotiations for cable channels to preserve competition. Paramount also accepted a news editorial independence board for CNN and CBS. ‘The settlement is not a vote of support for this merger,’ said Bonta, who led the states’ suit in July after the Justice Department approved the deal in June.