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Colbert’s ‘Late Show’ wasn’t canceled — it was euthanized

UNITED STATES, AUG 6 – CBS cited financial losses estimated in the tens of millions and political pressures including a $16 million settlement with Donald Trump for cancelling The Late Show with Stephen Colbert.

  • On July 17, CBS and Paramount Global surprised audiences by canceling Stephen Colbert, host of The Late Show With Stephen Colbert, despite its popularity.
  • Pointing to a $16 million settlement with President Donald Trump, Colbert criticized Paramount Global's moves amid the Skydance merger and digital struggles.
  • With viewership figures, CBS claimed the cancellation was ‘purely a financial decision’ and George Cheeks said losses were ‘significant’ in the ‘tens of millions of dollars’.
  • In solidarity, John Oliver pledged support for Colbert and his team ‘in a horrible, horrible time,’ while Jon Batiste called life a ‘precious gift’ to highlight its value.
  • As the format evolves, industry watchers note it’s unclear whether late-night television is dead or undergoing reinvention, making future broadcast network schedules unpredictable over 5–10 years.
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CBS Boss Says Decision to Cancel Colbert’s ‘Late Show’ Started With Taylor Tomlinson’s ‘After Midnight’ Exit

After Skydance’s takeover of Paramount became official, exec George Cheeks made a statement addressing the end of 'The Late Show.'

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The Hill broke the news in Washington, United States on Wednesday, August 6, 2025.
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