Overview

• Letterman labeled the decision to end The Late Show with Stephen Colbert “pure cowardice” and “gutless” in a July 25 YouTube interview.
• He disputed the network’s claim that annual losses of $40 million to $50 million justified canceling the show after giving Colbert ten more months.
• Letterman tied the cancellation to Paramount’s $16 million lawsuit settlement with President Trump and its pending $8.4 billion Skydance Media merger.
• He argued that CBS mishandled Colbert, calling him the network’s flagship talent who deserved a more respectful transition.
• The Late Show franchise will continue through the 2025–26 season and conclude in May 2026 under Stephen Colbert’s hosting.