Overview

• CBS will end The Late Show with Stephen Colbert in May 2026 after citing annual losses of up to $50 million despite leading late-night ratings.
• Colbert resumed his show this week with a monologue that condemned President Trump’s celebration of his ouster and cast Paramount’s $16 million settlement as a “bribe.”
• Jon Stewart, Jimmy Fallon and other late-night hosts joined solidarity appearances to lambast CBS’s decision as industry capitulation.
• FCC Chair Brendan Carr and lawmakers including Elizabeth Warren have publicly questioned whether the cancellation was a concession to clear the way for Paramount’s deal.
• Protesters gathered outside the Ed Sullivan Theater chanting “Colbert stays, Trump must go,” reflecting widespread backlash over perceived political influence.