Late-night hosts rally behind Stephen Colbert after cancellation announcement


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Summary

Colbert addresses cancellation

Stephen Colbert addressed CBS’s cancellation of "The Late Show," questioning financial reasoning despite the show’s top ratings.

Trump's online critique

He responded to Trump’s online attacks and mocked CBS’s reported $40–50 million loss with a satirical musical sketch.

Hosts rally

Other late-night hosts like Jon Stewart and Jimmy Kimmel publicly backed Colbert, criticizing the network’s decision.


Full story

Stephen Colbert is not going quietly after CBS announced it would end “The Late Show.” During Monday’s monologue, the host spoke candidly about the decision, while fellow late-night hosts and celebrities rallied behind him.

His remarks included jabs at CBS, President Donald Trump and a parody skit featuring surprise cameos by Lin-Manuel Miranda and Weird Al Yankovic.

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Colbert says CBS decision doesn’t add up

Colbert opened his monologue with a promise to hold nothing back during his final months on air. He said CBS had clarified the cancellation was “purely a financial decision.”

“But how can it be purely a financial decision if ‘The Late Show’ is number one in ratings?” Colbert asked during Monday’s show.

He went on to address a report from the New York Post that a CBS insider said the network was losing $40-50 million annually on the show.

“I could see us losing $24 million,” Colbert said. “But where would Paramount have possibly spent the other $16 million? Oh, yeah…” he added, referencing the company’s reported legal settlement with Donald Trump, tied to the “60 Minutes” lawsuit.

Trump birthday card and Truth Social feud

Colbert also brought up a recent The Wall Street Journal report alleging that Donald Trump sent Jeffrey Epstein a birthday card for his 50th birthday. The note reportedly included several lines of typewritten text framed by the outline of a naked woman “hand-drawn with a heavy marker.”

Later, Colbert responded to a Truth Social post from Trump that read, “I absolutely love that Colbert got fired. His talent was even less than his ratings.” To that, Colbert replied on air with a blunt message:

“Go f— yourself.”

Celebrity cameos and musical satire

The monologue gave way to a musical performance by Lin-Manuel Miranda and Weird Al Yankovic. The bit poked fun at the viral Coldplay kiss cam story involving the CEO of Astronomer and a mystery woman — who wasn’t his wife.

As the two performed, the camera cut to fake kiss cam moments featuring hosts like Anderson Cooper, Andy Cohen, Jimmy Fallon, Seth Meyers, Adam Sandler, John Oliver and Jon Stewart.

The sketch ended abruptly when Colbert appeared with a letter from “corporate,” spoofing his own cancellation.

“Your song has been canceled,” he said.

“What? Why?” they asked.

“It says here this was purely a financial decision,” Colbert responds. 

Colbert followed up with a punchline that mirrored reports of his own show’s financial loss:

“Since you started playing that song, the network has lost, and I don’t know how this is possible, $40 million to $50 million.”

Jon Stewart, others show support

Celebrities have been voicing their support too. While Stewart was in Colbert’s audience Monday, he closed his Monday “The Daily Show” monologue with a message for CBS:

“If you’re afraid and you protect your bottom line, I’ve got but one thing to say, just one little phrase — ‘Go f— yourself.’”

Jimmy Kimmel, who’s currently on summer break, also shared his reaction last week via Instagram, posting the cancellation news and calling out the network.

Jake Larsen (Video Editor), Alex Delia (Deputy Managing Editor), and Julia Marshall (Digital Producer) contributed to this report.
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Why this story matters

Debate over the cancellation of 'The Late Show with Stephen Colbert' highlights tensions between business decisions, political influence and the role of critical media in the U.S.

Media economics

Shrinking advertising revenues and reported financial losses for late-night TV programs are cited by CBS as the primary reasons for ending 'The Late Show with Stephen Colbert,' reflecting broader industry challenges.

Political influence

Critics, including Jon Stewart and other late-night hosts, raise concerns that the cancellation may be influenced by the Paramount-Skydance merger requiring federal approval, and the timing of a legal settlement with President Donald Trump, suggesting that political considerations could affect media programming decisions.

Free speech and institutional fear

Commentators such as Jon Stewart argue that fear of political retaliation might discourage networks from supporting content that is critical of those in power, raising broader questions about freedom of expression and the role of media institutions in a democratic society.

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Synthesized coverage insights across 34 media outlets

Behind the numbers

Several sources report that “The Late Show” was losing significant amounts of money, with losses cited as high as $40–50 million per year on an over $100 million annual budget. Advertising revenue for late-night shows reportedly fell from $439 million in 2018 to $220 million in 2024, reflecting broader industry challenges amid rising production costs and falling viewership.

Context corner

The cancellation occurs amid major industry shifts: traditional late-night TV faces declining viewership, and media companies like Paramount are seeking mergers for survival. The proposed $8 billion Paramount-Skydance merger and recent legal settlements, including a $16 million payment to Donald Trump, have created a backdrop of corporate uncertainty and regulatory scrutiny, further complicating programming decisions.

History lesson

Late-night television has historically played a significant role in American cultural and political discourse, with previous hosts like David Letterman and Johnny Carson. This era reflects a broader trend in media—network franchises that once defined entertainment are now challenged by evolving technologies and audience preferences, just as older formats like vaudeville or radio once were.

SAN provides
Unbiased. Straight Facts.

Don’t just take our word for it.


Certified balanced reporting

According to media bias experts at AllSides

AllSides Certified Balanced May 2025

Transparent and credible

Awarded a perfect reliability rating from NewsGuard

100/100

Welcome back to trustworthy journalism.

Find out more

Bias comparison

  • Media outlets on the left frame Jon Stewart’s fiery defense of Stephen Colbert as a bold stand against what they portray as CBS’s politically motivated capitulation to Trump-era pressures, employing vivid, emotionally charged language like “hits Trump right in the ‘penis’” and “extortion fee” to suggest corporate fear and censorship masked as financial rationale.
  • Media outlets in the center offer a more restrained, fact-driven narrative emphasizing industry-wide advertising declines without deeply engaging in political framing.
  • Media outlets on the right de-emphasizes political motives, focusing instead on pragmatic concerns—citing Colbert’s $40 million yearly losses and the “path of least resistance” in network decisions—with a tone that often ridicules Stewart’s protest as “embarrassing” and highlights business realities.

Media landscape

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34 total sources

Key points from the Left

  • Jon Stewart criticized CBS for canceling Stephen Colbert's show, claiming it was not just a financial decision but influenced by fear of Donald Trump.
  • CBS announced that the cancellation was purely a financial decision amidst declining ad revenue in late-night television.

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Key points from the Right

  • Jon Stewart criticized CBS, doubting claims that the cancellation was purely financial, stating it may relate to political pressures.
  • Comedians, including Jon Stewart, supported Colbert during his show after the cancellation news, expressing their disapproval of CBS's actions.

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