Overview

• President Trump told reporters at the White House that Fallon and Kimmel have “no talent” and predicted they would follow Colbert off the air.
• CBS television chief George Cheeks said The Late Show will end in May 2026 purely for financial reasons, citing a 50% plunge in late-night ad revenue and soaring production costs.
• Stephen Colbert mocked the president in a self-made promo and used his last pre-hiatus episode to pitch Netflix and Amazon on a June 2026 series.
• Paramount’s $16 million settlement with Trump and the FCC-approved $8 billion Skydance merger have fueled claims that political considerations shaped CBS’s decision.
• Industry peers and unions have rallied around editorial independence as networks adapt to dwindling ad markets and evolving viewing habits.