CBS Cancels Stephen Colbert Late Show Citing $40M Annual Loss

CBS's decision to cancel “The Late Show with Stephen Colbert” has sparked significant debate, with the network citing financial losses exceeding $40 million annually despite the show's strong linear TV ratings. Colbert's sharp political commentary, particularly his criticisms of President Donald Trump, culminated in a viral 12-minute farewell monologue that garnered nearly 10 million YouTube views, the channel's highest in six years, highlighting a paradox where the show excelled on traditional TV but struggled with social media engagement compared to competitors like Jimmy Fallon and Jimmy Kimmel. Critics argue that while late-night TV is less profitable and culturally relevant in today's media landscape, the complete removal of the show signals a troubling shift away from politically charged satire and commentary. Some view the cancellation as a financial necessity rather than a politically motivated move, as CBS eliminated the entire late-night franchise rather than replacing Colbert with a less controversial host. This development also marks a broader transition, with emerging digital content creators like Dave Jorgenson embracing platforms like YouTube to fill the void left by traditional late-night programming, signaling a transformation in how political and social commentary is delivered to audiences. Overall, Colbert's departure underscores the challenges facing legacy late-night shows amid evolving viewer habits and the rising importance of digital media.