CBS's cancellation of The Late Show with Stephen Colbert, effective May 2026, follows financial strains on the late-night TV industry and coincides with its parent company's merger with Skydance Media. The announcement comes shortly after Colbert criticized Paramount for its $16 million settlement with Trump regarding a manipulated interview controversy. Colbert, a vocal opponent of Trump, deemed the settlement a 'big fat bribe,' especially in light of the merger valuing $8 billion that awaits Department of Justice approval. Colbert's show was notably successful, earning top ratings in late-night television with an average of 2.42 million viewers in 2025.
Despite Stephen Colbert's ratings success, CBS announced the cancellation of The Late Show, coinciding with a significant merger and political tensions surrounding a recent $16 million settlement with Trump.
Experts cite financial pressures on the late night television model and highlight the potential political motives behind CBS's decision to cancel Colbert's show amidst ongoing media scrutiny.
Colbert, known for his criticism of President Trump, condemned the settlement with Trump as a 'big fat bribe' in response to CBS's ongoing merger negotiations that require Department of Justice approval.
The cancellation marks the end of an era for a long-running late-night franchise that began with David Letterman in 1993 and had initially displaced Pat Sajak's show.
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