Overview

• CBS executives maintain the May 2026 cancellation reflects annual losses exceeding $40 million rather than the show’s content or political commentary
• The FCC cleared Skydance’s $8 billion acquisition of Paramount under conditions requiring a two-year ombudsman and a diversity of viewpoints in programming
• Democratic FCC Commissioner Anna Gomez and the Musicians Union denounced the merger terms and The Late Show’s end as threats to free expression
• Stephen Colbert vowed to intensify his on-air critiques of President Trump during the show’s final ten months, declaring the “gloves are off” in farewell episodes
• Debate persists over whether financial pressures or Paramount’s $16 million settlement with President Trump truly dictated the decision to retire Colbert’s franchise