Stephen Colbert's late-night program, "The Late Show with Stephen Colbert," has been a significant financial burden for its parent company, CBS, reportedly costing the network an astonishing $40 million annually.
This financial strain has ultimately led to the show's cancellation, marking the end of its over-decade-long run. The network confirmed the decision, citing economic reasons as the primary factor behind the move.
According to Gateway Pundit, the announcement of the show's termination at the conclusion of the 2026 season came as a surprise to many, including long-time staff members. Paramount's co-CEO, George Cheeks, made the final call, although discussions about the show's future had been ongoing among CBS executives for several months.
The Colbert team was first alerted to the potential cancellation around Independence Day, with Colbert himself receiving the definitive news just before the public announcement. To preempt any leaks, Colbert chose to inform his staff and address the matter on his show promptly.
Behind the scenes, Colbert appeared to be in a state of disbelief, yet he remained composed and appreciative towards his senior staff, expressing gratitude without displaying anger, as reported by a source within the Ed Sullivan Theater. The decision to cancel the show did not require consultation with key figures involved in Paramount's merger politics, such as Ellison, Jeff Shell, or the incoming Skydance team, as the show's financial losses did not qualify as a "material decision" necessitating their input.
Colbert has been a prominent figure among late-night hosts, known for his unabashed support of the Democratic Party and frequent criticism of President Donald Trump and the MAGA movement. This political stance has been a defining feature of his show, often serving as a platform for satirical commentary on conservative figures and policies.
President Trump, never one to shy away from expressing his opinions, reacted to the news of Colbert's cancellation with evident satisfaction. "I absolutely love that Colbert got fired. His talent was even less than his ratings," Trump remarked.
He further speculated on the future of other late-night hosts, suggesting that Jimmy Kimmel might be next to face the chopping block, while praising Greg Gutfeld as the only host with a genuine sense of humor. "I hear Jimmy Kimmel is next. Has even less talent than Colbert!"
Trump continued. "Greg Gutfeld is better than all of them combined, including the Moron on NBC who ruined the once great Tonight Show."
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