The decision by CBS to cancel “The Late Show with Stephen Colbert” has been met with little explanation from the company itself. However, after Skydance’s deal to take over Paramount became official, Chair of TV Media George Cheeks spoke out about the challenge facing late-night television.
“The advertising marketplace is in significant secular decline,” Cheeks said at a press conference. “We are huge fans of Colbert, but unfortunately, the economics made it a challenge for us to keep going.” The network cited declining ad revenue as the reason for canceling the show, with estimated annual losses ranging from $40 million.
Cheeks also stated that the company is focusing on investing in other areas, such as primetime and sports, rather than continuing to invest in late-night programming. “At the end of the day, it just wasn’t sustainable,” he said.
The cancellation comes amid controversy surrounding CBS’s settlement with President Trump over a 60 Minutes interview with Kamala Harris. Some have questioned the timing of the decision, but Cheeks reiterated that it was due to the timing of contracts for crew members, including writers and producers.
While the exact reasons behind the cancellation are unclear, one thing is certain: Stephen Colbert’s departure marks a significant loss for late-night television. The show was known for its unique blend of humor, politics, and entertainment, and Colbert’s departure has left many fans reeling.
Source: https://deadline.com/2025/08/cbs-george-cheeks-late-show-with-stephen-colbert-cancelation-1236481494