The Late Show’s Stephen Colbert tempted fate when he called Paramount Global’s $16 million settlement with President Donald Trump a “big fat bribe” earlier this week. Three days later, CBS announced it would end his show after the upcoming 2025-2026 season.

Stephen Colbert's 'Late Show' cancellation shows how his fake Republican and Never Trump persona became irrelevant as the political landscape shifted under Trump

The “Late Show” cancellation augurs ominously for the future of political comedy carried by mass media. Then again, comedy can exist outside of platforms provided by corporate conglomerates. Comedians can ply their wares at small clubs and make whatever jokes they see fit. Freedom of speech lives! Right?

In the wake of the cancellation of Stephen Colbert's "The Late Show", Donald Trump has taken to social media to express his joy at the decision.

Donald Trump is already lying about why CBS’s The Late Show With Stephen Colbert was canceled. “I absolutely love that Colbert’ got fired. His talent was even less than his ratings,” Trump wrote on Truth Social Friday morning.

Does the end of Colbert's show in May 2026 relate to the Paramount-Skydance merger? To Colbert's criticism of Donald Trump? To the demise of late night television? Who's to say?

The president also took aim at ABC late-night host Jimmy Kimmel and NBC’s “Tonight Show” host Jimmy Fallon, while praising Fox News’s Greg Gutfeld, whose talk show “Gutfeld!” airs an hour earlier than the major late-night shows.

CBS’ decision to cut ties with Stephen Colbert and its decades-old “Late Show” franchise come next May will leave a major hole in the format — but one that has been widening. TV networks have been cutting costs at their late-night mainstays for the past few years.