The stamp of approval from the Federal Communications Commission comes after months of turmoil revolving around U.S. President Donald Trump's legal battle with 60 Minutes, the crown jewel of Paramount-owned broadcast network CBS.

President Donald Trump 's Federal Communications Commission has approved a merger between Paramount and Skydance after CBS capitulated and canceled The Late Show with Stephen Colbert.

“The FCC’s approval of the Paramount-Skydance merger reeks of the worst form of corruption,” Sens. Ed Markey (D-Mass.) and Ben Ray Luján (D-N.M.) said in a joint statement. “The stench of this transaction will linger over the Commission for years.”