Stephen Colbert on CBS Cancelling 'The Late Show': Financial Struggles or Political Pressure?

Stephen Colbert has weighed in on the cancellation of CBS’ 'The Late Show', telling the New York Times that he believes “two things can be true” about the network’s decision. While CBS has framed the cancellation as a purely financial move amid a challenging late-night landscape, rumors persist that the decision was influenced by political pressure from President Trump.

CBS Cites Financial Reasons, But Timing Raises Questions

The cancellation of 'The Late Show' in July 2025 came just days after Colbert publicly criticized CBS’ parent company, Paramount, for paying a $16 million settlement to Trump over a $20 billion lawsuit. Colbert had called the settlement a “big fat bribe” on-air, arguing it was meant to secure FCC approval for Paramount’s merger with Skydance Media.

This sequence of events has led many to speculate that CBS’ decision to cancel the show was an attempt to placate Trump and his administration. Colbert acknowledged the possibility, stating that while he does not dispute CBS’ financial rationale, the timing of the cancellation appears suspicious.

Colbert Acknowledges Network’s Financial Struggles

“It’s possible that two things can be true. Broadcast can be in trouble. They cannot monetize because of things like YouTube, because of the competition of streaming,” Colbert said. “I do not have any desire to debate them over what they say their business model is and how it does not work for them anymore.”

He added that CBS had actively encouraged him to sign a long-term contract extension in 2023, ultimately agreeing to a three-year deal. The sudden reversal in their stance has left Colbert questioning what changed.

Colbert Avoids Speculation, Focuses on Gratitude

When pressed by the New York Times to choose between financial or political explanations for the cancellation, Colbert refused to commit to one over the other. Instead, he emphasized his desire to maintain a positive relationship with CBS.

“I believe two things can be true. I’m not saying the two things are true. It behooves me not, it ain’t ‘behoovy’ for me, to spend a lot of time thinking about that,” Colbert explained. “I have zero desire to have a contentious relationship with my network. I’ve really liked working with CBS. They’ve been great partners. And I’d like to end it that way.”

Reflecting on his 11 years hosting 'The Late Show'—and nearly 21 years in late-night television overall—Colbert expressed gratitude rather than resentment.

Colbert Rejects Claims of Late-Night Bias

In the same interview, Colbert dismissed the Trump administration’s argument that late-night shows like his have become unfairly partisan.

“I don’t have any problem with Trump being a Republican,” Colbert said. “I have a problem with Trump being