Colbert Says $16M Settlement Makes Cancellation 'Reasonable'

In a wide-ranging GQ interview, Stephen Colbert addressed CBS/Paramount’s July decision to end The Late Show, saying he was surprised to learn of the cancellation from his manager and joking he was “the first number one show to ever get canceled.” He said it’s “reasonable” for people to link the axing to Paramount’s reported $16 million settlement with Donald Trump and the timing around the Paramount–Skydance merger and pending FCC approval, but he stopped short of asserting that motive himself, insisting “my side of the street is clean.” Colbert criticized the settlement as damaging to the network’s reputation, quipping it was a “big fat bribe,” and said he was shocked there was no preamble from network executives even as he accepts the business explanation. CBS and Paramount have called the move “purely financial,” citing secular declines in the late‑night advertising market, and the long‑running franchise will air its final episode in May 2026. The announcement prompted public backlash — Donald Trump celebrated, Senators Elizabeth Warren and Adam Schiff sought answers, and peers including David Letterman called the decision cowardly — reigniting debate over editorial independence, corporate pressure and the economics of late night.