Money or Politics? Colbert Show Gets Canceled/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ CBS has announced it will cancel The Late Show with Stephen Colbert in May 2025, ending a decades-long TV legacy. While CBS cites financial reasons, critics argue politics and Trump-era pressure played a role. The move highlights the fragile economics of traditional television and signals a decline for late-night comedy.
Colbert Late Show Cancellation: Quick Looks
- CBS to end Stephen Colbert’s show in May 2025
- Network cites economic challenges, denies political motivation
- Colbert was Trump’s fiercest late-night critic
- Industry-wide ad revenue for late night has halved since 2018
- Streaming platforms now dominate U.S. media consumption
- WGA demands investigation into CBS decision
- Trump celebrates cancellation, mocks Colbert online
- Colbert, Stewart, and Kimmel still Emmy nominees
- CBS faces pressure from merger talks with Skydance
- Comedy’s daily political voice may be fading from TV
Deep Look: CBS to Cancel Colbert’s Late Show, Citing Costs as Trump Weighs In
Deep Look
WASHINGTON — In a stunning move that signals a major shift in the media landscape, CBS has announced the cancellation of The Late Show with Stephen Colbert, set to end in May 2025. The decision, which network executives claim is purely financial, also removes one of President Donald Trump’s most consistent and high-profile critics from late-night television.
Colbert, who took over the Late Show in 2015, transformed it into the most-watched program in its genre, winning fans for his political satire and nightly jabs at Trump. Now, CBS says that dwindling ad revenue and mounting network costs have forced them to make hard calls — but critics suggest the timing and optics say otherwise.
The Financial Argument
CBS and its parent company Paramount Global framed the decision as economic. In a statement, CEO George Cheeks called it “purely a financial decision against a challenging backdrop in late night.”
Indeed, the numbers are grim. According to ad firm Guidelines, late-night advertising revenue has dropped from $439 million in 2018 to $220 million in 2024. Meanwhile, streaming platforms like YouTube, Netflix, and others have officially overtaken traditional networks in viewership for the first time, according to Nielsen.
With $70 billion spent on entertainment content and another $30 billion for live sports last year, network priorities have shifted. Live sports is still the biggest draw, and its rising costs are eating into budgets for scripted and unscripted programming — including late-night comedy.
“The economics of television are weak,” said Brian Wieser, CEO of advertising consulting firm Madison & Wall. “It’s not clear that CBS could justify Colbert’s price tag anymore.”
Political Pressures and Public Perception
But CBS’ assurances haven’t quelled speculation. Just days before the cancellation announcement, Colbert publicly slammed Paramount’s $16 million settlement with Trump over a 60 Minutes interview, calling it a “big fat bribe” meant to curry favor as the company seeks government approval for its merger with Skydance Media.
Now, some observers argue that Colbert’s ouster looks like a concession to Trump.
The Writers Guild of America (WGA) has even called for an investigation by New York’s attorney general, questioning whether CBS is “sacrificing free speech” for political gain.
“This isn’t just the end of a show,” said Journey Gunderson, executive director of the National Comedy Center. “It’s the quiet removal of one of the few remaining platforms for daily comedic commentary.”
Trump Responds
Unsurprisingly, Trump welcomed the news.
“I absolutely love that Colbert got fired,” he wrote on Truth Social. “His talent was even less than his ratings.”
The president has previously urged CBS to terminate Colbert, and now appears to be celebrating the culmination of that pressure campaign.
Trump also took a jab at Jimmy Kimmel, saying, “I hear Jimmy Kimmel is next,” adding fuel to concerns about a broader politicized purge in late-night TV.
A Genre in Decline
Beyond politics, late-night television is simply struggling to stay relevant. Once a key demographic magnet for advertisers, especially among young men, the format has seen its audience migrate to streaming platforms or bite-sized content on social media.
NBC has already trimmed Jimmy Fallon’s show to four nights a week and eliminated the band from Seth Meyers’ program. CBS recently canceled After Midnight — though host Taylor Tomlinson reportedly chose to leave.
With Colbert’s show ending, CBS effectively exits the late-night space. That raises questions about whether the traditional format of nightly comedy shows still has a future on broadcast TV.
“It is a very sad day for CBS,” said Andy Cohen, host of Bravo’s Watch What Happens Live. “They are turning off the lights after the news.”
What’s Next for Colbert and the Genre?
Colbert, who received an Emmy nomination this week, could easily find a home on a streaming platform, experts say. He remains a top-tier talent, and his brand of political humor has long resonated with audiences online as much as on-air.
Jon Stewart, another former nightly presence, now only appears once a week on The Daily Show. Jimmy Kimmel’s contract ends next year, and he has openly wondered how long he wants to keep going.
“I have moments where I go, I cannot do this anymore,” Kimmel told Variety in 2022. “And I have moments where I go, what am I gonna do with my life if I’m not doing this?”
If this is the end of Colbert’s network run, it may also represent a broader sunset for traditional political comedy in prime time — just as Trump gains momentum in a changing media world.
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