CBS To Cancel The Late Show With Stephen Colbert

On July 17, 2025, CNN revealed that CBS plans to cancel The Late Show with Stephen Colbert after its current season, ending the iconic David Letterman–Colbert franchise in May 2026 The New Republic. Stephen Colbert, still leading late-night ratings, received the news on July 16 and shared it with a visibly stunned studio audience People.com.

CBS cited “purely financial” concerns behind the move, pointing to declining linear TV audiences, rising production costs, and broader fiscal pressures on late-night programming . The show averaged around 2.4 million viewers in Q2 2025—a drop from nearly 4 million in 2018—though it remained top-rated in its slot Fox News.

However, the timing of the cancellation—just days after Colbert criticized Paramount Global for paying former President Trump $16 million to settle a lawsuit over a “60 Minutes” segment—has fueled speculation that financial reasoning masks political motivations Vulture. In a recent monologue, Colbert called the settlement a “big fat bribe” The New Republic. His critique came three days before the cancellation announcement .

That settlement was directly tied to the pending Paramount–Skydance merger—an $8 billion deal awaiting FCC approval. Observers suggest CBS sought to curry favor with the Trump administration and regulators ahead of review People.com. In parallel, FCC scrutiny has intensified over alleged editorial interference in “60 Minutes” coverage of Kamala Harris, which led to political pressure and internal conflict at CBS News Fox News.

Colbert’s cancellation sparked immediate backlash. Late-night host Jimmy Kimmel, along with Senators Elizabeth Warren and Adam Schiff, demanded transparency, questioning whether political influence affected the decision ElHuffPos. Trump celebrated on Truth Social, expressing approval and even mocking Colbert and other hosts The New Republic.

Industry insiders argue that trending cost-cutting moves—like ending this lead show rather than downsizing—suggest greater forces at work. While networks like NBC have reduced episodes or formats, CBS chose to eliminate the franchise entirely .

Main Points

• Cancellation announced: The Late Show with Stephen Colbert will end May 2026; reasons given are purely financial The New Republic.
• Ratings remain strong: Show leads late-night ratings despite viewership decline TIME.
• Possible hidden motives: Timing aligns with Colbert’s critique of a $16 million Trump settlement by Paramount ahead of the Skydance merger The Washington Post.
• FCC and corporate scrutiny: The merger and political climate are putting CBS and “60 Minutes” under pressure regarding editorial independence People.com.
• Public outcry: Prominent hosts, politicians, and viewers are calling for clarity on the decision .

Implications & Outlook

• Merger leverage: CBS may have leveraged Colbert’s cancellation to smooth the transaction with Skydance under Trump-era regulatory review.
• Institutional precedent: This raises broader concerns about political influence over media content and journalistic independence.
• Financial vs. editorial motives: CBS may pursue cost-cutting via platform consolidation or streaming, potentially reshaping late-night formats.
• Regulatory attention: FCC and lawmakers may scrutinize the merger’s impact on press freedom and editorial autonomy.
• Audience trust: The fallout could erode trust in broadcast networks perceived as politically compromised.