CBS Cancels Stephen Colbert’s Late Show Ahead of Paramount-Skydance Merger

Stephen Colbert's long-running 'The Late Show' is set to end in May 2026, a decision CBS and Paramount have described as purely financial amid a challenging late-night TV landscape. However, the cancellation has sparked widespread speculation that it may be linked to CBS's recent $16 million settlement with President Trump over a lawsuit, especially since Colbert had been openly critical of Trump and the settlement. Trump celebrated the show's cancellation on social media, prompting a sharp rebuke from Colbert, who vowed to speak more candidly about the president in his remaining months on air. Fellow late-night host Jimmy Fallon expressed his disapproval of the cancellation publicly, acknowledging the potential backlash CBS might face from viewers. Industry analysis suggests that Colbert's departure could benefit alternative entertainment formats such as video podcasts and streaming services, which are gaining popularity as late-night TV viewership shifts. The controversy highlights concerns about self-censorship and political influence in media during Trump's administration.