CBS has canceled “The Late Show with Stephen Colbert” after a mid-summer vacation announcement left the studio audience in boos. The show’s cancellation is attributed to its unprofitable nature, despite being one of the top-rated programs in its time slot.
Industry insiders claim that CBS executives weighed the pros and cons before making the decision, citing a lack of financial viability. According to sources close to the network, “The Late Show” was losing money, with no apparent path to turning around its financial position.
The cancellation has sparked controversy, with many doubting the network’s claims that it was financially driven rather than politically motivated. The Writers Guild of America has expressed concerns that the show’s retirement may be a “bribe” to curry favor with the Trump administration.
Despite this, data suggests that late-night TV is facing an uncertain future due to audience fragmentation and digital competition. Ad revenue for late-night shows has declined significantly, from $439 million in 2018 to just $220 million in 2024 – a 50% drop.
The high production costs of late-night shows, combined with the difficulty of adapting content to streaming platforms, have made it challenging for networks like CBS to turn a profit. The cancellation of “The Late Show” may be seen as part of a larger trend towards cost-cutting in the entertainment industry.
The pending merger between Paramount and Skydance has also raised eyebrows, with some questioning whether the deal was influenced by the Trump administration’s potential involvement. While there is no direct evidence linking Colbert’s cancellation to the settlement, Democratic senators are urging an investigation into the matter.
Source: https://edition.cnn.com/2025/07/18/media/colbert-cbs-late-show-cancel-paramount-trump