CBS has confirmed the cancellation of “The Late Show with Stephen Colbert,” which will conclude on July 17, 2026. The decision comes after a long-standing financial struggle for the show, with reports suggesting annual losses of $40 million. Critics argue that CBS’s parent company Paramount’s merger with Skydance played a role in the show’s demise.
Comedian David Letterman believes Colbert was let go due to his vocal criticism of President Donald Trump and Republican values. Oracle founder Larry Ellison and his son are also under scrutiny, with some speculating they pressured CBS for the cancellation.
Kimmel, also a critic of Trump, has expressed his disappointment on social media, even going so far as to suggest he might campaign against himself in favor of Colbert’s award candidacy. A recent billboard featuring Kimmel supporting Colbert has sparked controversy, with many interpreting it as an attempt to sway Emmy voters and potentially impact the outcome.
CBS initially stated that the decision was unrelated to the show’s performance or content. However, industry insiders argue that the timing of the merger between Paramount and Skydance raises suspicions about CBS’s financial motives. The backlash against the cancellation has been swift, with many in the industry weighing in on social media.
Source: https://www.vanityfair.com/hollywood/story/jimmy-kimmel-billboard-stephen-colbert-emmys