"The Late Show with Stephen Colbert," a prominent fixture of late-night US television, is scheduled to conclude its run in May 2026, as announced by the CBS network. The cancellation has ignited a storm of debate and speculation, largely due to its proximity to a significant financial settlement involving CBS's parent company, Paramount, and former President Donald Trump. CBS has maintained that the decision is "purely a financial decision against a challenging backdrop in late night" and is "not related in any way to the show's performance, content or other matters happening at Paramount."

Stephen Colbert himself confirmed the show's impending end during a recent episode, eliciting boos and expressions of disbelief from his audience. He clarified that not only his show, but the decades-old "Late Show" franchise, which has continuously aired on CBS since 1993 and was previously hosted by David Letterman, would be coming to an end. "I'm not being replaced. This is all just going away," Colbert stated.

Photo Credit: Pinterest

The controversy stems from a $16 million settlement reached this month between Paramount and Donald Trump. This agreement resolved a lawsuit Trump filed last year, seeking $20 billion, alleging that CBS News' "60 Minutes" deceptively edited an interview with his 2024 election rival, Kamala Harris. The timing of "The Late Show's" cancellation, just days after Colbert publicly denounced the settlement as "a big fat bribe," has drawn sharp criticism and raised questions about potential political motivations, especially as Paramount is also seeking federal government approval for its $8 billion merger with Skydance.

Donald Trump celebrated the news on his Truth Social platform, writing, "I absolutely love that Colbert got fired. His talent was even less than his ratings." However, political figures and other critics voiced strong concerns. Democratic Senator Elizabeth Warren highlighted the suspicious timing, stating, "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." She added, "America deserves to know if his show was canceled for political reasons." Senator Adam Schiff echoed these sentiments, asserting, "If Paramount and CBS ended the 'Late Show' for political reasons, the public deserves to know. And deserves better."

The Writers Guild of America has called for an investigation by the New York attorney general into whether the cancellation was an attempt to improperly curry favor with Trump. In a statement, the Guild expressed "significant concerns that The Late Show's cancellation is a bribe, sacrificing free speech to curry favor with the Trump Administration as the company looks for merger approval."

Photo Credit: Pinterest

Fellow late-night hosts also reacted to the news. Jimmy Fallon, host of NBC's "The Tonight Show," expressed his shock on Instagram, writing, "I really thought I'd ride this out with him for years to come." Jimmy Kimmel, whose program airs on ABC, simply chimed in, "Love you, Stephen." CBS, in its statement, expressed pride in Colbert calling CBS home, stating he and the broadcast "will be remembered in the pantheon of greats that graced late night television."

Stephen Colbert, who previously gained fame on Comedy Central, succeeded David Letterman as host of "The Late Show" in 2015, bringing his incisive political commentary and satirical humor to the mainstream. His tenure continued the tradition of late-night television shows serving as significant cultural touchstones, blending entertainment with political discourse and celebrity interviews, a landscape previously shaped by legends like Johnny Carson, Jay Leno, and Letterman.