CBS Ends Stephen Colbert Show Citing Financial Losses Amid Trump Settlement Controversy

CBS announced it will end "The Late Show with Stephen Colbert" in May 2026, citing financial losses reportedly amounting to $40 million annually, while denying the cancellation was related to content or performance. The decision followed Colbert's public criticism of a $16 million settlement between CBS' parent company, Paramount Global, and President Donald Trump, which sparked speculation that CBS sought to appease the Trump administration amid a pending major merger approval. Some commentators and public figures questioned the motives behind the cancellation, suggesting it was an attempt to curry favor with the Trump-controlled FCC, while others defended CBS' financial rationale or criticized the backlash. Colin Cowherd praised Colbert's contributions to late-night television but noted the industry's shift toward shows seeking approval from coastal critics. Reactions to the cancellation have been polarized, with some accusing CBS of cowardice and suppression of free speech, leading to calls for boycotts of the network and its advertisers. Meanwhile, others dismissed claims that Colbert's firing was politically motivated, pointing out that other entertainers critical of Trump have not faced similar consequences.