Overview

• Lorne Michaels said Comcast CEO Brian Roberts assured him that The Tonight Show Starring Jimmy Fallon and Late Night With Seth Meyers are not facing cancellation.
• Michaels said he was "just stunned" by Paramount’s decision to end The Late Show With Stephen Colbert.
• He described late-night’s challenge as balancing TikTok and YouTube clip viewers with traditional linear audiences, adding that Fallon’s show is especially clip-friendly.
• Asked about politics, Michaels said no one may ever know if Colbert’s cancellation was politically motivated and argued that denouncing President Trump "doesn’t work."
• Context from recent reporting noted CBS pointed to finances, with losses reportedly exceeding $40 million a year on a budget over $100 million, while Democratic critics tied the move to Trump-related settlements as the FCC reviewed Paramount’s Skydance deal.