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CBS Cancels Stephen Colbert’s Late Show Citing ‘Financial Reasons.’ Many Suspect the Real Reason is Trump

BBG News

For quite some time now, traditional late-night TV viewership has been decreasing, as audiences are increasingly spending their evenings on streaming platforms and preferring to watch clips of late-night shows from services like YouTube or TikTok rather than tuning in for nightly scheduled programming. However, CBS’s The Late Show remained the clear frontrunner in this competition.

In the second quarter, Nielsen ratings revealed that Stephen Colbert’s comedy-led program attracted approximately 2.42 million viewers across 41 episodes, capturing about 9% of the audience share and outperforming other shows airing at the same time. Additionally, it was the only show to gain more viewers compared to the previous quarter. Notably, earlier this week, this show was nominated for a Primetime Emmy Award in the category of outstanding talk series.

On Thursday, during a taping, Colbert informed his audience that the following year would be their last season. This news came as a shock to viewers. At the Ed Sullivan Theater, there were boos in response. “I understand your emotions,” the host said, clarifying that he himself had just found out about the decision the previous night.

After over three decades on the air, “The Late Show” is set to bid farewell in May 2026. Unlike before, there will be no new host taking over from Colbert; instead, it appears that this iconic program will simply cease to exist as Colbert himself put it, “Everything is just coming to an end.

The cancellation of “The Late Show” occurred not long after Colbert criticized CBS’s parent company Paramount for the $16 million settlement they made with President Donald Trump. This lawsuit was filed by Trump against the entertainment company due to their editing of a 60 Minutes interview with former Vice President Kamala Harris. In his monologue, Colbert referred to this settlement as a “big fat bribe,” alluding to the upcoming sale of Paramount to Skydance Media which needs the approval of the Trump Administration.

Speaking as a long-term staff member of this organization, I was deeply hurt by recent events, and I’m not sure if anything can restore my faith in the company again,” Colbert expressed on Monday.

Executives from Paramount and CBS swiftly dismissed speculations about outside factors impacting the current state of late-night television, stating, “This move is strictly a financial decision amidst the tough conditions in late-night programming. It has no connection whatsoever to the show’s ratings, content, or any other internal happenings at Paramount.

It’s clear that American late-night TV is struggling, and “The Late Show” isn’t the only program feeling the impact. For instance, “The Tonight Show Starring Jimmy Fallon” on NBC reduced its taping days from five to four last year, with repeats airing on Fridays. Additionally, due to budget cuts, NBC’s “Late Night With Seth Meyers” had to say goodbye to its house band. In 2023, CBS’s “The Late Late Show” was canceled after host James Corden left, and it was replaced by a cheaper comedy game show called “After Midnight“. Unfortunately, that show also didn’t last long; it was terminated when its host, Taylor Tomlinson, returned to stand-up.

Today’s late-night TV landscape is significantly different from the era of Johnny Carson in the ’60s, or the periods dominated by Jay Leno and David Letterman in the ’90s and 2000s. For instance, viewership for The Late Show dropped from 3.81 million six years ago to 2.6 million during the 2023-2024 season as reported by Hollywood Reporter. Additionally, creating late-night TV is costly – even the hosts earn millions annually – and while internet viewership helps, it doesn’t fully compensate for lost advertising revenue.

However, this termination occurs during a period where Trump’s approach towards press freedom has grown increasingly strict. He prohibited journalists from the Oval Office, initiated lawsuits against media entities that present unfavorable coverage, and advocated for the dismantlement of public broadcasting systems.

Many people are questioning why The Colbert Show was cancelled, as some believe it may be due to the increased political content since Colbert took over. He often uses Trump as a target for his criticism and humor. On Friday, Trump publicly expressed his approval of the news, posting on Truth Social: “I’m thrilled that Colbert got fired! His abilities were even weaker than his ratings. I’ve heard Jimmy Kimmel is next. He has less talent than Colbert!

As a discerning moviegoer speaking on X’s set during a recent taping, I find myself compelled to express my sentiments. If it transpires that Paramount and CBS have decided to discontinue The Late Show due to political motivations, the viewing public has the right to be informed, and they deserve programming of superior quality in return.

Senator Elizabeth Warren (D-Mass.) raised questions about potential political motives, saying “CBS abruptly ended Colbert’s program only THREE DAYS after Colbert criticized CBS’s parent company Paramount for a $16M settlement with Trump, which appears to be bribery. The public deserves to understand if the cancellation of his show was due to political reasons.

“‘Financial reasons’” my ass,” said activist Charlotte Clymer on X. “This is political.”

Meanwhile, others have voiced their sorrow over the demise of a staple in late-night television. Anderson Cooper, host on CNN, shared his shock and deep sadness upon hearing the news of the cancellation. He admired Colbert for his genuine kindness as a person at heart.

I’m really bummed about this. I need more info. We love you @stephenathome”

Filmmaker Judd Apatow conveyed his endless respect and anticipation for more of Colbert’s greatness, saying: “My admiration and appreciation for you knows no bounds. Can’t wait to see what else you’ll share with the world.”

Jon Batiste, former band leader on The Late Show, simply stated: “You are the greatest to ever do it.”

Actress Rachel Zegler, known for her role as Snow White, shared her sadness and affection for Colbert, saying: “I’m really sad. I love you, Stephen.”

Lastly, Adam Scott from Severance wrote a message filled with love and frustration: “I love you Stephen. This is complete nonsense, and I, for one, am looking forward to the next 10 months of shows.

One thing is clear: the cancellation of the Late Show during the Trump Administration isn’t something that can be easily ignored. Bill Carter, an author known for his books on late-night television, recently stated on X: “The financial aspect of this business has indeed been strained, as CBS claims, but if CBS thinks it can avoid tough questions about giving in to Trump without facing scrutiny, they are severely misguided.

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2025-07-18 18:06

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