Overview

• CBS announced in mid-July that “The Late Show with Stephen Colbert” will conclude in May 2026, attributing the decision to annual losses of $40–50 million.
• Paramount Global agreed to a $16 million settlement with President Trump over his lawsuit against “60 Minutes,” prompting critics to question whether political pressure influenced the cancellation.
• In his first episode since the announcement, Colbert rebuked Trump on air with “go fuck yourself” and pledged to continue delivering unvarnished political satire.
• Late-night hosts Jimmy Fallon, Seth Meyers, John Oliver, Jon Stewart and Andy Cohen joined Colbert on stage in a rare show of solidarity defending editorial independence.
• Democratic senators have launched inquiries into the Trump settlement and are demanding documents on Paramount’s pending $8 billion merger with Skydance Media, which requires FCC approval.