Overview

• The remarks came shortly after Skydance completed its $8.4 billion acquisition of Paramount Global.
• Cheeks cited a secular decline in late-night advertising and tens of millions of dollars in annual losses.
• Contract negotiations for writers, producers and Colbert’s expiring three-year deal flagged a critical decision point.
• Taylor Tomlinson’s refusal to take over the former Late Late Show slot left the network without a successor host.
• Colbert will continue to host until April 2026 with no replacement lined up for the 11:35 pm ET slot.