Colbert’s “Late Show” Canceled Amid Criticism

The new Paramount Chief has backed the previous administration’s choice to cancel “The Late Show with Stephen Colbert,” citing significant issues with the current late-night landscape.

Jeff Shell, who became president of Paramount following its merger with Skydance, addressed CBS’s decision to end the late-night staple in May 2026. “There’s a big problem right now in the middle of the night,” he commented during a press conference with Paramount executives in Los Angeles.

While Shell acknowledged that Colbert’s audience had averaged the viewership levels of David Letterman’s era, he pointed out a dramatic shift in late-night finances. “The problem is that 80% of viewers and growth is on YouTube,” he explained, noting that YouTube “pays 45 cents on the dollar.”

Industry experts have observed that Colbert’s competitors, Jimmy Fallon and Jimmy Kimmel, garnered more views and engagement on platforms like YouTube, even with lower television ratings compared to Colbert’s liberal-leaning program.

Last month, CBS’s announcement to cancel “The Late Show” sent shockwaves through the political and media realms. The network asserted that this was driven purely by financial reasons. However, critics on the left suggested there may have been political motivations behind the move, hinting at appeasement towards President Donald Trump shortly after resolving a legal dispute regarding the merger.

Reportedly, the show lost over $40 million annually with a budget exceeding $100 million per season, raising questions about its viability compared to other daytime and prime-time offerings. Some sources noted that among late-night shows, “The Late Show” had the smallest digital presence, which likely played into the cancellation decision.