Colbert's 'late Show' Was Reportedly Losing Cbs $40m A Year As Critics Speculate Politics Drove Cancellation

A caller study is putting a spotlight connected nan finances of "The Late Show" arsenic critics estimate nan CBS cancellation was a governmental move to soundlessness its anti-Trump big Stephen Colbert. 

Puck News' Matt Belloni reported nan late-night show "has been losing much than $40 cardinal a year" for CBS and that it had a fund of "more than $100 cardinal per season," contrasting it pinch network's daytime and primetime programming, which he noted were "still profitable."

"'Late Show,' pinch its topical joke and personage interviews pegged to circumstantial projects, has struggled connected Paramount+. And of nan 3 web late-night shows, ‘Late Show’ has by acold nan smallest integer footprint connected YouTube and different platforms," Belloni wrote. "So from a business perspective, nan cancellation makes sense."

CBS CANCELS ‘THE LATE SHOW,’ STEPHEN COLBERT TO END PROGRAM IN MAY 2026

CBS announced Thursday it has canceled "The Late Show pinch Stephen Colbert" and that it will extremity its tally successful May 2026. (Scott Kowalchyk/CBS via Getty Images)

Belloni said nan sources he said pinch astatine CBS and Skydance Media, nan institution that is group to bargain nan network's genitor institution Paramount Global arsenic portion of an $8 cardinal merger, insist Colbert's cancellation was "based connected economics, not politics," pointing to nan determination to springiness his show a 10-month hold to May 2026 alternatively of pulling nan plug instantly arsenic evidence.

"Still, 2 different group pinch heavy ties to CBS and Late Show fishy otherwise," Belloni said. "After all, erstwhile a web decides that a show is excessively expensive, executives typically spell to nan cardinal talent and inquire them to return salary cuts, occurrence people, aliases different slash costs. That didn’t hap here—though pinch Colbert said to beryllium making betwixt $15 cardinal and $20 cardinal per year, a salary trim wouldn’t person solved nan problem connected its own." 

The seasoned intermezo journalist went connected to propose that governmental motivations could beryllium successful play if Paramount goes connected to besides cancel "The Daily Show," which airs connected CBS' sister cablegram web Comedy Central, but stressed, "for now, I cautiously (and skeptically) judge that this was mostly an economical decision."

SCHIFF, WARREN DEMAND TO KNOW IF CBS IS ENDING STEPHEN COLBERT'S ‘LATE SHOW’ FOR ‘POLITICAL REASONS’

That said, Belloni asked whether this was "the reservoir bursting" successful precocious nighttime connected broadcast television, suggesting that Jimmy Kimmel astatine ABC arsenic good arsenic Jimmy Fallon and Seth Meyers astatine NBC could beryllium next. 

"I’ve sensed that nan networks person each been reluctant to beryllium nan first to propulsion nan trigger connected a cancellation successful nan historical clip slot. CBS has now fired nan opening shot, and it’s reasonable to fishy that NBC and ABC will follow," Belloni wrote. "So no, I wouldn’t slumber good coming if I were Kimmel aliases Fallon, though some person larger integer footprints and do a batch much for their respective networks. Fallon and Meyers person besides been protected by Lorne Michaels, who produces some their shows, though I wonderment if moreover Lorne mightiness admit that nan 12:30 slot is progressively not viable, and nan ineffable cows of tv are being slaughtered, 1 by one."

President Donald Trump speculated astir nan early of nan different late-night hosts successful his Truth Social station celebrating "The Late Show" cancellation.

"I perfectly emotion that Colbert sewage fired," he said. "His talent was moreover little than his ratings. I perceive Jimmy Kimmel is next. Has moreover little talent than Colbert! Greg Gutfeld is amended than each of them combined, including nan Moron connected NBC who ruined nan erstwhile awesome Tonight Show."

"The Late Show" was losing $40 cardinal per twelvemonth for CBS and had a fund northbound of $100 cardinal per season, according to a study from Puck's Matt Belloni. (Spencer Platt/Getty Images)

CBS said successful its connection Thursday announcing nan cancellation that it was "purely a financial determination against a challenging backdrop successful precocious night," adding, "It is not related successful immoderate measurement to nan show's performance, contented aliases different matters happening astatine Paramount."

In a somber connection breaking nan news to his workplace audience, Colbert said, "The folks astatine CBS person been awesome partners." 

However, he struck a vastly different reside connected Monday while slamming Paramount's caller colony pinch Trump.

"I judge this benignant of analyzable financial sentiment pinch a sitting authorities charismatic has a method sanction successful ineligible circles. It’s ‘big fat bribe,'" Colbert said. "Because it each comes arsenic Paramount’s owners are trying to get nan Trump management to o.k. nan waste of our web to a caller owner, Skydance!"

There had been concerns wrong Paramount that not settling Trump's lawsuit would halt its Skydance merger, which needs nan support of nan FCC.

CBS and its genitor institution Paramount Global settled President Donald Trump’s $20 cardinal predetermination interference suit against nan web complete its handling of its "60 Minutes" question and reply pinch then-Vice President Kamala Harris successful nan lead-up to Election Day past October. (Getty Images)

Skydance Media CEO David Ellison, who would power CBS aft nan planned merger, is believed to desire a less-partisan operation.

Liberal critics, including respective apical Democrats, person expressed outrage towards CBS, insisting Colbert's show was canceled for governmental reasons. 

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Paramount did not instantly respond to Fox News Digital's petition for comment.