The Late Show with Stephen Colbert is one of the only ways I can digest political news without losing every shred of my sanity. So, I’m not sure what the fuck I’m supposed to do next year when it’s off the air. Yup, on July 17, Colbert announced that The Late Show has been canceled and will come to an end in May 2026. The comedian clarified, “It’s not just the end of our show, but it’s the end of The Late Show on CBS. I’m not being replaced. This is all just going away.” (Back in 2015, Colbert replaced former host David Letterman.)

The shocking news came shortly after Colbert poked fun at CBS’ parent company, Paramount, and their recent $16 million settlement with Trump. Now, fans are asking valid questions about the timing of the cancellation. CBS claimed in their statement that it was “purely a financial decision against a challenging backdrop in late night” and “not related in any way to the show’s performance, content or other matters happening at Paramount.” But not everyone’s buying that. So, why was The Late Show with Stephen Colbert canceled? Here’s a breakdown of the politics-related theories.

Why Was The Late Show With Stephen Colbert Canceled? Paramount Rumors Explained

Was Stephen Colbert’s Show Canceled Because Of His Joke About Paramount?

Earlier this month, Paramount paid $16 million to settle a lawsuit with the President over the editing of a Kamala Harris 60 Minutes interview. According to The New York Times, legal experts thought the deal was “an unnecessary concession in a frivolous case.” Why would Paramount pay such a hefty sum for a bullshit lawsuit instead of fighting it? Well, the company is also working on closing a multibillion-dollar merger with Skydance, which requires approval by the FCC under the Trump administration.

During the July 14 episode of his show, Colbert roasted Paramount and suggested they paid the millions in order to get approval for the Skydance merger. “I don’t know if anything will ever repair my trust in this company… But just taking a stab at it, I’d say $16 million would help,” he joked. Colbert pointed out that Paramount could’ve “easily fought” the lawsuit. “I believe this kind of complicated financial settlement with a sitting government official has a technical name in legal circles: It’s big fat bribe,” he said.

Since the cancellation, politicians have responded to Paramount’s decision about the show. “CBS canceled Colbert’s show just THREE DAYS after Colbert called out CBS parent company Paramount for its $16M settlement with Trump – a deal that looks like bribery,” Senator Elizabeth Warren tweeted. Senator Bernie Sanders chimed in on X: “Stephen Colbert, an extraordinary talent and the most popular late night host, slams the deal. Days later, he’s fired. Do I think this is a coincidence? NO.“

Celeb Cameos On Stephen Colbert’s Show After The Cancelation Announcement

Several of Colbert’s famous pals showed their support at his July 21 show. “I don’t want this show to be associated with making you sad or anxious, but since I’m the guy who’s going away next year, I’m thinking maybe I’m not the guy to cheer you up,” Colbert said. “So I thought music, okay, that makes people happy, right?” Lin-Manuel and Weird Al then appeared to perform Coldplay’s “Viva la Vida” as the camera panned to the audience for the best Coldplay kiss cam parody yet. We got hilarious shots of Andy Cohen, Anderson Cooper, Adam Sandler, Christopher McDonald, Jimmy Fallon, Seth Meyers, John Oliver, and Jon Stewart.