Was Stephen Colbert’s ‘Late Show’ Canceled Because of Trump? What to Know

On Thursday, CBS announced that it was cancelling the long running The Late Show with Stephen Colbert.

The cancellation news came just days after Stephen Colbert, a critic of Donald Trump, called out Paramount, the parent company of CBS, over its $16 million settlement with the president.

Why It Matters

The Late Show has existed in some form since 1993 when David Letterman first sat behind the desk. After he left in 2015, CBS tapped Stephen Colbert, then the host of his own political comedy talk show The Colbert Report on Comedy Central, to carry on the franchise.

In a statement on Thursday, the network said the late-night talk show was being canceled for financial reasons. Those reasons are associated with Paramount’s proposed merger with Skydance Media, which requires Federal Communications Commission (FCC) approval under the Trump administration. Paramount is the parent company of CBS.

On Monday, Colbert called out Paramount over its $16 million settlement with Trump.

“While I was on vacation, my parent corporation Paramount paid Donald Trump a $16 million settlement over his 60 Minutes lawsuit,” Colbert, 61, said in a monologue on The Late Show. “As someone who has always been a proud employee of this network, I am offended, and I don’t know if anything will ever repair my trust in this company. But just taking a stab at it, I’d say $16 million would help.”

Trump previously accused 60 Minutes of editing its interview with then-Vice President Kamala Harris, the Democratic nominee in last year’s presidential election in a “deceitful” way, which the show denied.

What To Know

In a press release that was sent to Newsweek, CBS called its decision to end The Late Show franchise “agonizing.”

“This is purely a financial decision against a challenging backdrop in late night. It is not related in any way to the show’s performance, content or other matters happening at Paramount,” the statement read.

“Stephen has taken CBS late night by storm with cutting-edge comedy, a must-watch monologue and interviews with leaders in entertainment, politics, news and newsmakers across all areas. The show has been #1 in late night for nine straight seasons; Stephen’s comedy resonates daily across digital and social media; and the broadcast is a staple of the nation’s zeitgeist.”

The statement continued: “The accomplishments of The Late Show with Stephen Colbert are memorable and significant in performance, quality and stature. With much gratitude, we look forward to honoring Stephen and celebrating the show over the next 10 months alongside its millions of fans and viewers.”

As Colbert’s show comes to an end, questions now surround Jon Stewart’s future amid the changing media landscape. The 62-year-old hosted Comedy Central’s The Daily Show from 1999 to 2015. He later hosted The Problem with Jon Stewart on Apple TV+ from 2021 to 2023 and returned to The Daily Show in 2024 part-time. Paramount also owns Comedy Central.

Matt Navarra, a news personality and social media consultant, told Newsweek prior to CBS’ announcement that Colbert and Stewart are “iconic voices in political comedy,” but “their future does hinge on a new leadership’s appetite for their brand of satire.” Stewart is also a critic of Trump’s.

Rodney Benson, a professor in the Department of Media, Culture, and Communication and an affiliated faculty member of the Department of Sociology at New York University, added in a statement to Newsweek: “In a future company controlled by Skydance, it’s easy to imagine that Stewart’s and Colbert’s shows could be short-lived.”

Newsweek contacted Stewart’s representative via email and Skydance Media via an online form outside regular working hours for comment.

What People Are Saying

Stephen Colbert reacted to The Late Show‘s cancellation during Thursday’s episode: “Before we start the show, I want to let you know something that I found out just last night. Next year will be our last season. The network will be ending The Late Show in May,” he said as the audience booed. “Yeah, I share your feelings. It’s not just the end of our show, but it’s the end of The Late Show on CBS. I’m not being replaced, this is all just going away, and I do want to say that the folks at CBS have been great partners. I’m so grateful to the Tiffany Network for giving me this chair and this beautiful theater to call home. And of course I’m grateful to you, the audience, who have joined us every night.”

Senator Adam Schiff, a California Democrat who was a guest on The Late Show with Stephen Colbert on Thursday, wrote via X, formerly Twitter: “Just finished taping with Stephen Colbert who announced his show was cancelled. If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better.”

Senator Elizabeth Warren, a Massachusetts Democrat, wrote on X: “CBS canceled Colbert’s show just THREE DAYS after Colbert called out CBS parent company Paramount for its $16M settlement with Trump—a deal that looks like bribery. America deserves to know if his show was canceled for political reasons. Watch and share his message.”

What Happens Next?

The Late Show with Stephen Colbert will conclude in May 2026.

The Paramount and Skydance merger is expected to close on or before October.