The Late Late Show
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In a decision that shocked the entertainment industry and comedy world, CBS said on Thursday that it was canceling the most-watched show in late night, “The Late Show With Stephen Colbert,” and retiring a franchise that has existed for more than three decades.
Mr. Colbert’s run — and “The Late Show” itself — will end in May.
CBS executives said in a statement that the cancellation was “purely a financial decision against a challenging backdrop in late night.”
“It is not related in any way to the show’s performance, content or other matters happening at Paramount,” said the executives, who included George Cheeks, the president of CBS and a co-chief executive of Paramount, CBS’s parent. “Our admiration, affection and respect for the talents of Stephen Colbert and his incredible team made this agonizing decision even more difficult.”
Mr. Colbert said during a taping of “The Late Show” that he was informed of the decision on Wednesday night. When his studio audience unleashed a chorus of boos upon hearing the news, Mr. Colbert said, “Yeah, I share your feelings.”
Late night talk show host Stephen Colbert went nuclear on his parent corporation, Paramount, after the company settled a bombshell lawsuit with Donald Trump for a whopping $16 million.
Trump accused Paramount’s network, CBS, which also airs The Late Show with Stephen Colbert, of falsely editing an interview with then-presidential candidate Kamala Harris before the election.
Although the network didn’t admit to any journalistic wrongdoing, the massive settlement will cover Trump’s legal fees and his future presidential library.
Paramount also agreed to release unedited transcripts of 60 Minutes interviews with presidential candidates.
Colbert didn’t hesitate to take shots at his parent corporation, confessing in his opening monologue on Wednesday’s episode that he was ‘offended’ by the actions of his employer.
The late night host called the lawsuit against CBS a ‘nuisance,’ and claimed that Paramount could’ve ‘easily fought it’ citing the company’s own words calling the allegations ‘completely without merit.’
‘And keep in mind Paramount produced Transformers: Rise of the Beast. They know “completely without merit,”‘ Colbert joked, poking fun at the Paramount+ film that bombed at the box office.
Huh.