Stephen Colbert’s Late Show shockingly cancelled after 33 years - just days after his scathing Trump criticism

Just days after Stephen Colbert slammed CBS parent company Paramount Global for coughing up a $16 million settlement to Donald Trump, which Colbert called “a big fat bribe”, CBS dropped a bombshell: The Late Show is getting cancelled

This ends a 33-year late-night legacy. Colbert, who has hosted the show since 2025, revealed the news to a shocked audience during Thursday’s taping.

“I’m not being replaced, this is all just going away,” Colbert announced, drawing boos from the crowd. The timing of the cancellation has raised eyebrows, with many wondering if Colbert’s outspoken criticism of the network’s handling of the Trump lawsuit sealed the show’s fate.

Colbert’s verbal jab came after Paramount settled a lawsuit filed by Trump over allegations that CBS News deceptively edited an interview with then-presidential candidate Kamala Harris.

Colbert, here with Nic Cage, has hosted a string of celeb guests on gthe show since 2015 (Scott Kowalchyk/CBS)

Paramount was simultaneously seeking approval for an $8.4 billion merger with Skydance Media, and critics suggest the settlement was a strategic move to smooth political waters.

Colbert didn’t mince words on Tuesday’s episode, sarcastically noting, “Paramount knows they could have fought it...” His biting commentary only fuelled speculation that the cancellation wasn’t just a routine business decision.

Democratic Senators Adam Schiff and Elizabeth Warren quickly jumped into the fray. Schiff tweeted, “If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better.”

Warren added, “CBS cancelled Colbert’s show just THREE DAYS after Colbert called out CBS parent company Paramount … America deserves to know if his show was cancelled for political reasons.”

Trump, who has also succesfully sued ABC for millions, will see Colbert’s cancellation as a triumph (PA Wire)

CBS and Paramount executives insist the cancellation is “purely a financial decision against a challenging backdrop in late night” and “not related in any way to the show’s performance, content or other matters happening at Paramount.”

They called Colbert “irreplaceable” and promised the show would be “remembered in the pantheon of greats.” But the timing and the bitter fallout from the Trump lawsuit settlement makes it hard to ignore the political undertones.

For many fans, Colbert’s sharp wit and fearless political commentary have been the heart of late-night TV, and the cancellation feels like an abrupt end to that voice.

As the final season approaches, viewers will be watching closely, wondering whether this really was just “business as usual” or if CBS quietly bowed to political pressure, turning off the mic on one of its most outspoken stars.