the staff of the Ridgewood blog
New York NY, CBS has officially canceled The Late Show with Stephen Colbert, citing massive financial losses rather than political pressure, according to network insiders.
Despite The Late Show maintaining the No. 1 spot in late-night TV ratings, the show was reportedly bleeding $40 million to $50 million annually due to a decline in advertising revenue and shrinking viewership among younger audiences.
Paramount’s co-CEO George Cheeks made the call to pull the plug, even as some speculate that the decision was politically motivated after Colbert criticized the network’s $16 million settlement with Donald Trump just days before his firing.
Was Politics Behind the Cancellation?
Colbert had recently blasted CBS during his monologue for paying millions to settle Trump’s lawsuit over a controversial 60 Minutes interview with Kamala Harris. Some political figures, including Senator Elizabeth Warren, hinted the cancellation was linked to CBS’s parent company Paramount seeking Trump administration approval for its $8 billion sale to Skydance Media, led by David Ellison—son of tech billionaire and Trump ally Larry Ellison.
However, CBS executives insist the cancellation had nothing to do with Colbert’s political leanings.
“Colbert gets no advertising and late night is a tough spot,” one insider said. “He might be No. 1, but who watches late-night TV anymore?”
The Harsh Reality of Late-Night TV
While The Late Show still averaged nearly 2 million total viewers, that’s a steep decline compared to its heyday. Younger audiences have shifted away from traditional TV, slashing late-night ad revenue by more than 50% since 2018.
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CBS late-night shows earned $220 million in ad revenue in 2024, compared to $439 million in 2018.
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The key 25–54 demographic only accounted for 200,000 viewers, making it hard to attract high-value advertisers.
Paramount insiders confirmed that RedBird Capital’s Jeff Shell, who will lead CBS after the Skydance deal closes, has been “crunching the numbers” and found CBS’s late-night programming to be a financial “melting ice cube.”
Skydance-Paramount Deal & FCC Approval
The cancellation coincides with Skydance Media’s pending $8 billion acquisition of Paramount, which still requires FCC approval.
Sources told The Post that David Ellison is now telling associates the lawsuit settlement with Trump has cleared the way for regulatory approval by mid-August. However, FCC Chairman Brendan Carr is reportedly considering conditions to address what he sees as left-wing bias in CBS’s news programming to satisfy public interest rules for local broadcasters.
The Future of CBS Programming
CBS plans to shift resources toward CBS Sports and “truth-based” news programming, hoping to strengthen its brand while reducing losses in underperforming areas like late-night TV.
“This wasn’t about politics—it was about money,” said one source close to the decision.
Meanwhile, Trump celebrated the cancellation on Truth Social, calling Colbert’s firing a “victory” and suggesting Jimmy Kimmel might be next.
Will Late-Night TV Survive?
With declining viewership, dwindling ad revenue, and streaming competition, the future of late-night television is uncertain. Even the most-watched shows are struggling to justify their budgets, leading many networks to rethink the genre entirely.
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Hilarious…now take down Kimmel too.
i remember flipping through the tv back in the day and seeing this fool.
He just peddled the propaganda and most of ya’ll ate it up like slop to a hog.
The show sucks, he’s not even funny, it’s almost like he’s an alien. What do they find individuals like this? Reminds me of shithead managers
The show sucks.he’s a prep.
Trump wanted him off !!
You could be right. It might be a coincidence. But there’s a very creepy video of him (allegedly it’s him) that’s making the rounds. Considering all the other stuff going on right now, either Trump is cleaning the house quietly, or Colbert decided it was time to move on before his dirty little secret gets exposed.
Greg Gutfeld.