Colbert Canceled! CBS Dumps Left‑Wing Comedy After Trump Criticism

In a moment that stunned late-night audiences, CBS confirmed it will retire the 33-year-old Late Show franchise in May 2026, after The Late Show with Stephen Colbert concludes its final season.

Colbert broke the news live during a taping, revealing the network had opted not to replace the time slot and would instead phase out late-night programming entirely. “Next season is our last,” he told a shocked audience, adding pointedly: “They can cancel the show—but they can’t cancel the truth.” The Guardian+3Wikipedia+3Wikipedia+3

🎭 Public and Industry Reaction

Colbert’s announcement drew immediate boos from the audience. Fellow late-night hosts joined the chorus of outrage. Jimmy Kimmel and Jimmy Fallon paid tribute or voiced disbelief, while Jon Stewart condemned CBS’s decision as symptomatic of corporate fear in the face of political pressure. People.comCinemablendRolling Stone AustraliaEW.comVanity Fair

Colbert didn’t hold back during his final monologue—mocking CBS’s financial rationale and calling it suspect that the top-rated late‑night show could lose $40–50 million a year in ad revenue. “Where did the other $16 million go?” he quipped, referring to Paramount’s $16 million settlement with Donald Trump. latimes.com+15washingtonpost.com+15The Sun+15

💼 CBS’s Official Position vs. Growing Doubts

CBS and Paramount executives insisted the cancellation is “purely a financial decision,” unrelated to the content of the show or Colbert’s critiques. They emphasized that The Late Show remains the No. 1 broadcast late-night program, but advertiser dollars and traditional viewership are dwindling. newyorker.com+1washingtonpost.com+1

However, skepticism arose due to timing: the announcement followed Colbert’s scathing remarks over the Trump settlement just days earlier, prompting speculation about whether the move was politically motivated. CBS insiders and liberal figures—including Senator Bernie Sanders and Senator Elizabeth Warren—expressed concerns about free speech implications and corporate self-censorship. ReutersThe IndependentRolling Stone AustraliaThe GuardianPBSCTVNews

📉 The Decline of Late-Night Economics

Though it remained the top-rated late-night program, The Late Show was reportedly losing tens of millions annually. Industry experts highlight the broader structural shift: younger viewers prefer short clips, podcasts, and streaming platforms—leaving traditional late-night comedy financially untenable. ReutersWikipedia

As CBS navigates its $8 billion merger with Skydance Media, approving regulators like the FCC (under Trump appointee Brendan Carr) appear to be another pressure point. CBS’s handling of the Trump lawsuit settlement and subsequent cancellation of Colbert’s show have fueled speculation it’s about appeasing political influence—not purely fiscal reality. PBS+8Wikipedia+8washingtonpost.com+8

🎙️ Colbert’s Reaction: Defiant Until the End

Stephen Colbert, known for his relentless stands against Trump-era politics, declined to go quietly. Early in his final season, he declared “the gloves are off”, signaling a shift toward even sharper commentary. He turned his final episodes into a rallying cry over censorship, truth-telling, and media independence. The Guardian

🌐 What Comes Next for CBS and Late Night?

With The Late Show ending, CBS leaves behind a legacy era of late-night programming dating back to David Letterman in 1993. Executives say they’re exploring new formats—potentially minimizing politically driven programming in favor of broader‑appeal shows or reality series.

The cancellation may foreshadow a broader retreat from traditional late night: NBC and ABC still have shows—but digital disruption may force hard choices soon. WikipediaReutersreddit.com

✅ Bottom Line

Fact: The Late Show with Stephen Colbert will end May 2026 after nine years of Colbert hosting. CBS will retire the franchise entirely. newsweek.com+10CBS News+10The Independent+10
Claimed reason: CBS cites financial losses amid a changing media ecosystem—not content-related issues. CBS NewsPBSReuters
Speculated reasons: Timing suggests possible retaliation for Colbert’s criticism of a Trump settlement, amid pending merger with Skydance Media. washingtonpost.com

Colbert may have delivered his critics a final real-time zinger: “Cancel the show—but not the truth.” And the wider industry—and political establishment—is watching.