On Thursday, CBS announced that it was cancelling the long running The Late Show with Stephen Colbert. The cancellation news came just days after Stephen Colbert, a critic of Donald Trump, called out Paramount, the parent company of CBS, over its $16 million settlement with the president.

Even CNN’s Brian Stelter, no fan of Trump, said as much, writing: “The bottom has indeed been falling out of the late-night TV business model for several years now. Audience fragmentation and digital competition have led to a decline in ad revenue across the board. One insider described it as ‘cratering’ at CBS.”

"Just finished taping with Stephen Colbert who announced his show was cancelled," U.S. Sen. Adam Schiff, D-California, said in a post on X. "If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better.

On Thursday night, Stephen Colbert announced that CBS has canceled The Late Show. The iconic late-night series, which ran for over 30 years between both Colbert and David Letterman's tenures as host, will end in May 2026.

CBS' shock announcement sparked speculation over whether there was a political motive for the program's cancellation.

CBS on Thursday announced that it was canceling the long-running The Late Show with Stephen Colbert, citing financial reasons.

Schiff reminded viewers of Trump’s attacks on him. “Ever since I led his first impeachment, he’s threatened me with jail, prosecution, called me a traitor, accused me of treason… blah blah blah,” he said. Then Schiff turned directly to the camera with a message for the president.

Shortly after CBS announced that 'The Late Show' had been canceled for financial reasons, prominent figures began openly speculating about the network's timing