Top Democrats are alarmed by the $8 billion merger between Skydance Media and Paramount Global, alleging political interference, improper payments and threats to press freedom.The Federal Communications Commission(FCC) approved the high-stakes merger earlier this month that puts the new version of Paramount under the control of CEO David Ellison, the son of billionaire Oracle co-founderLarry Ellison.The approval came weeks after Paramount and CBS agreed to settle President Trumps "election interference" lawsuit for $16 million upfront.There is expected to be another eight-figure allocation set aside for advertisements, public service announcements or other similar transmissions, in support of conservative causes that is expected to be paid for by Ellison, but the media mogul has yet to speak publicly about the deal and the previous Paramount management was reportedly kept in the dark.CBS also announced ahead of the merger that the far-left program "The Late Show with Stephen Colbert" would be canceled. The new company, "Paramount, a Skydance Corporation," is the parent company to a variety of media and entertainmentassets, including CBS, Comedy Central, MTV, Paramount Plus and an iconic movie studio.LONGTIME '60 MINUTES' CORRESPONDENT STEVE KROFT, JON STEWART BASH CBS TRUMP SETTLEMENT AS SHAKEDOWNReps. Jamie Raskin, D-Md., and Frank Pallone, D-N.J., penned a letter to Ellison on Wednesday expressing their concerns with the merger, specifically regarding the extra cash to be paid by Ellison and the cancellation of "The Late Show.""Alarmingly, the FCCs decision came only after Skydance and Paramount agreed to provide millions of dollars in payments and free services to Donald Trump himself and millions to support his future presidential library respectively," Raskin and Pallone wrote."Further, as a condition of the merger, it appears Skydance has agreed to install someone to police CBSs editorial decisions, promising to conduct a comprehensive review of CBS and to appoint an ombudsman to root out bias," they continued. "Recent reporting and statements by President Trump indicate that you offered to provide President Trump with free access to between $15 and $20 million worth of public service announcements (PSAs) in exchange for FCCs approval of the merger."Raskin and Pallone, who are the top Democrats on the House Judiciary and Energy committees, said the settlement "raises significant concerns that Donald Trump demanded and Paramount paid an illegal bribea $16 million payment to the President in exchange for merger approval from the FCC.""Paramount also canceled the highly popular The Late Show with Stephen Colbert, which President Trump openly dislikes, shortly after Mr. Colberts on-air criticism of Paramounts settlement as a big fat bribe," Raskin and Pallone wrote."As part of our mandate to conduct congressional oversight, we will continue to scrutinize the connection between Skydances offers made to the President prior to closing the deal, Paramounts settlement of a sham lawsuit that enriches the President, and regulatory approval of the merger," they continued. "We will also continue to examine Paramount Skydance Corporations implementation and the FCCs enforcement, under Chairman Carrs leadership, of the merger conditions, with a special focus on any actions that appear to exceed the agencys statutory authority."Raskin and Pallone added, "Two wrongs do not make a rightillegitimate demands from the FCC or the Administration do not absolve your company from wrongdoing," and asked a series of questions, including confirmation of the "side deal" for advertising and all communications between the involved parties.PARAMOUNT, CBS FORCED TO PAY EIGHT FIGURES, CHANGE EDITORIAL POLICY IN SETTLEMENT WITH PRESIDENT TRUMPParamount declined comment when reached by Fox News Digital.But Raskin and Pallone arent the only Democrats who have a problem with the merger.Sen. Adam Schiff, D-Calif.,sent a letter to FCC chairman Brendan Carr on Monday."I am writing to clarify the Federal Communications Commissions (FCC) terms and conditions for approving the recent the $8 billion merger between Paramount Global and Skydance Media, including any role played by President Trump or his associates in influencing the FCCs actions. The sequence of actions and statements leading up to and following the FCCs merger approval, including Paramounts $16 million settlement with President Trump just days before the FCC issued its approval, raises significant questions and alarm that the FCC an independent regulatory agency has become a vehicle for President Trump to exact personal retribution and undermine the freedom of the press," Schiff wrote."Oversight by Congress is therefore imperative to assess the FCCs actions and the circumstances surrounding the approval, which, if influenced by President Trump, would set a dangerous precedent of political interference in and corruption of the FCCs merger approval process," he continued. "As you are aware, the FCCs authority and its limits are rooted in the First Amendment."Schiff said the FCC "does not have the authority to dictate editorial content, punish perceived political bias, compel or silence specific viewpoints, or reward parties on the basis of efforts to garner favor with elected officials," and criticized the Trump settlement, along with the new owner's plans to terminate DEI initiatives and offer diverse viewpoints.Carr cited the commitment to make significant changes at the once-storied CBS broadcast network when announcing he approved the deal in July.SKYDANCE INFORMS TRUMPS FCC IT WILL ELIMINATE DEI AT PARAMOUNT, CREATE CBS NEWS OMBUDSMAN FOLLOWING MERGER"The FCCs recent actions are especially troubling considering President Trumps history of disparaging the press and undermining the protections afforded to them by the Constitution," Schiff wrote.Schiff then asked Carr a series of questions, including about details of his meetings with Ellison, whether the FCC discussed "specific programming content decisions, including The Late Show with Stephen Colbert" with Paramount or Skydance officials, if any changes to editorial review practices were promised and whether the FCC had communications with the Trump administration regarding the deal.Schiff also asked if Trump administration officials or associates asked for special conditions ahead of the approval, what First Amendment analysis was conducted, if the FCC knew of any deal concerning a potential multi-million dollar public service announcement or advertising commitment and what safeguards the FCC has in place to insulate from external political pressure during the review of future merger applications.It doesnt appear that Carr is too concerned with Schiffs questions."Once again, Adam Schiff is pressing false accusations to distract from his misdeeds and divert press attention away from the great wins President Trump is delivering for the American people," Carr told Fox News Digital.CLICK HERE TO GET THE FOX NEWS APP