CBS announced the cancellation of the Late Show with Stephen Colbert – just days after the host blasted the network’s $16 million settlement with President Trump as a ‘big fat bribe.’

Colbert’s show, which began in 2015, will now come to an end in May 2026, executives with the network and Paramount, its new parent company, announced on Thursday.

‘The Late Show with Stephen Colbert will end its historic run in May 2026 at the end of the broadcast season,’ they said in a statement.

‘We consider Stephen Colbert irreplaceable and will retire the Late Show franchise at that time,’ the executives continued. ‘We are proud that Stephen called CBS home. He and his broadcast will be remembered in the pantheon of greats that graced late night television.’

The network explained that the decision to cancel the show is ‘purely a financial decision against a challenging backdrop in late night.’

‘It is not related in any way to the show’s performance, content or other matters happening at Paramount,’ it added.

But the announcement comes just days after Colbert slammed the network for settling the president’s lawsuit for $16 million – with some now questioning whether the cancelation may be political retaliation.

‘If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better,’ California Sen. Adam Schiff – who is set to appear on Thursday night’s episode – posted on X.

The Late Show with Stephen Colbert has been canceled days after the host blasted the network’s settlement with President Donald Trump

CBS settled President Donald Trump’s lawsuit alleging it falsely edited an interview with then Democratic candidate Kamala Harris for $16 million

Trump had accused the network of falsely editing an interview with then-presidential candidate Kamala Harris.

Although the network didn’t admit to any journalistic wrongdoing, the massive settlement will cover Trump’s legal fees and his future presidential library.

Paramount also agreed to release unedited transcripts of 60 Minutes interviews with presidential candidates.

Colbert, 61, didn’t hesitate to take shots at his parent corporation, confessing in his opening monologue on Wednesday’s episode that he was ‘offended’ by the actions of his employer.

The late night host called the lawsuit against CBS a ‘nuisance,’ and claimed that Paramount could’ve ‘easily fought it’ – citing the company’s own words calling the allegations ‘completely without merit.’

‘And keep in mind Paramount produced Transformers: Rise of the Beast. They know “completely without merit,”‘ Colbert joked, poking fun at the Paramount+ film that bombed at the box office.

Colbert then cited a phony statement, joking that the network said, ‘You may take our money, but you will never take our dignity.

‘You may, however, purchase our dignity for the low, low, price of $16 million. We need the cash.’

The comedian went on to argue that the settlement was a ‘big, fat, bribe,’ in light of the company’s $8.4 billion merger with Skydance, which will need approval from the Trump administration.

Colbert joked on Wednesday that his new mustache would make it impossible for the new executives to find and put pressure on him

The late night host also cited an article from Puck, that claimed the merger could ‘put pressure’ on him to ease up on Trump criticisms.

The owner of Skydance, David Ellison, has expressed his desire to have a more neutral tone on politics.

His father, Larry Ellison, is also a major Trump supporter who joined the president at the White House in January for the unveiling of a project called Stargate. It is now believed the elder Ellison is providing the $8 billion for the CBS deal, according to the New York Times.

But Colbert brushed off the gossip on his show Wednesday, joking that his new mustache will make it impossible for the new executives to find and put pressure on him.

CBS also announced that it is ending the Late Show program

Just one day later, though, Colbert announced the cancelation of his program.

‘Next year will be our last season. The network will be ending the Late Show in May,’ he told audience members, who responded to the news with emphatic ‘boos.’

‘It’s not just the end of our show, but it’s the end of the Late Show on CBS,’ he continued.

‘I’m not being replaced, this is all just going away,’ Colbert added, telling the audience he was just grateful to be given the opportunity to host the long-running show.

Public Backlash Grows as Supporters and Industry Insiders Demand Answers

The abrupt announcement of The Late Show‘s cancellation—delivered just 24 hours after Colbert’s viral monologue targeting CBS’s legal settlement—has sent shockwaves not only through his loyal fan base, but also among his own colleagues at the network.

Several current and former CBS staffers, speaking on condition of anonymity, expressed shock and confusion over the timing of the decision. “People are genuinely rattled,” one senior producer said. “No one saw this coming—not like this.”

Another insider close to the show revealed that staff received no internal briefing ahead of the public announcement, and many first learned of the cancellation through social media. “There’s a real sense of betrayal,” they said. “It doesn’t feel like a programming decision. It feels like someone pulled the cord from upstairs—fast.”

In internal CBS message boards, employees reportedly began circulating clips of Colbert’s monologue, questioning whether the sudden cancellation was, in fact, an indirect form of corporate retaliation. Some reportedly demanded “an honest explanation, not a financial alibi.”

Outside the network, long-time viewers and media commentators voiced growing skepticism. Late-night fans flooded comment sections, Reddit threads, and news forums with theories ranging from quiet censorship to pressure from executive stakeholders involved in the Skydance merger.

“We were told this was just a cost decision,” one industry writer posted.
“But when staff are whispering about a chilling effect, and no one will go on record… it’s hard to believe that’s all there is to it.”