By [Your Name] | July 21, 2025

CBS has announced that The Late Show with Stephen Colbert, currently the most-watched late-night program in the United States, will conclude its run in May 2026, prompting widespread reaction and speculation across the entertainment and political spheres.

The network cited financial strain and declining profitability in the late-night television sector as the primary reason behind the decision. But the timing of the announcement—just days after Colbert publicly criticized CBS’s parent company for settling a lawsuit with former President Donald Trump—has raised questions among viewers, lawmakers, and media watchdogs.

A Sudden End to a Long-Running Hit

The Late Show with Stephen Colbert has consistently led late-night ratings since Colbert took over in 2015. Despite averaging 2.4 million viewers per episode in recent months, CBS revealed the show had become financially unsustainable due to declining ad revenue across the genre.

“While the show continues to perform strongly in viewership, the economic model for late-night programming has dramatically shifted,” a CBS spokesperson said in a written statement. “This decision reflects broader strategic priorities as we adapt to a changing media landscape.”

Colbert, 60, has not made a formal statement but reportedly plans to complete his current contract, which runs through spring 2026.

Paramount Settlement With Trump Draws Scrutiny

The timing of the announcement has fueled speculation. Just days before CBS’s decision, Paramount Global—the parent company of CBS—agreed to pay $16 million to settle a lawsuit brought by Donald Trump over a 60 Minutes report related to Vice President Kamala Harris.

In an episode shortly after the settlement was announced, Colbert sharply criticized the deal on air, describing it as “a big fat bribe,” a remark that quickly circulated online and in political circles.

The swift timing between Colbert’s criticism and the cancellation news prompted Senator Bernie Sanders to publicly express concern.

“Do I think this is a coincidence? No,” Sanders said. “This looks like a disturbing effort to silence political commentary in the media.”

Senators Elizabeth Warren and Adam Schiff have also voiced unease, calling for more transparency into whether Colbert’s termination was politically motivated.

Late-Night in Decline

While the political tension surrounding the cancellation is attracting headlines, analysts note that late-night television as a format has been under increasing pressure for years.

According to Nielsen data, viewership for all major late-night shows has declined steadily since 2018. At the same time, advertising revenue for the time slot has dropped by nearly 50%, making even high-rated shows difficult to sustain financially.

Keith Olbermann, a former MSNBC host, posted on social media, “Sorry, that’s not what happened here,” dismissing claims that Colbert was fired over his political content and emphasizing the budgetary struggles networks face.

Nonetheless, the Writers Guild of America East has reportedly asked New York’s attorney general to investigate whether the move to end The Late Show might be part of a larger effort to appease political figures during Paramount’s pending merger with Skydance Media.

Trump Allies Celebrate, Critics Alarmed

Former President Donald Trump responded to the announcement on his Truth Social platform with enthusiasm, suggesting that Colbert had been “fired” and predicting other late-night hosts would be next. His allies have reportedly viewed the move as a “win” following years of late-night criticism directed at the former president.

Meanwhile, free speech advocates and some members of the press see the situation as a troubling signal.

“If a media company fears political retribution enough to cancel its top-rated host, we have a serious problem,” said Melissa Brown, director of the Center for Media Independence.

What’s Next for Colbert—and CBS?

Although The Late Show will continue for another 10 months, the announcement has already raised questions about Stephen Colbert’s future. Industry observers say he could pursue a streaming platform or return to political satire in another format, especially as the 2026 election season heats up.

CBS, for its part, has not confirmed whether it will replace The Late Show with a new program or shift its late-night strategy entirely.

The network has already cut other late-night ventures in recent years, including The Late Late Show with James Corden and Comedy Central’s The Daily Show experiencing multiple guest host rotations.

Conclusion

Whether Colbert’s departure is purely a financial decision or partially motivated by political pressure remains a matter of debate. What is clear is that the intersection of media, politics, and corporate consolidation is once again under the spotlight.

As Paramount continues to seek approval for its Skydance merger, scrutiny of its decisions—both on and off the air—will likely intensify.

For fans of The Late Show, the end of Stephen Colbert’s tenure marks not just the conclusion of a decade-defining program, but potentially the beginning of a new chapter in political comedy — one increasingly shaped by the forces behind the screen.

Sources:

TIME Magazine: “CBS Cancels Stephen Colbert’s Late Show Citing Financial Reasons. Critics Say That’s Not the Whole Story.”

The Guardian: “Bernie Sanders Calls Colbert Cancellation a Political Move”

Wikipedia: “The Late Show with Stephen Colbert”

The Daily Beast: “Colbert Has 10 Months to Make CBS Regret Its Decision”

Vox, Variety, Primetimer, and other verified outlets