The cancellation comes shortly after Paramount, on July 1, agreed to pay President Donald Trump a $16 million settlement over a lawsuit the president filed against it. The lawsuit accused CBS's "60 Minutes" of "deceptive editing" of his interview with presidential rival Kamala Harris.

The Late Show with Stephen Colbert will end in May 2026, the CBS television network announced in a surprise statement on Thursday. The move "is purely a financial decision against a challenging backdrop in late night [television]," and "is not related in any way to the show's performance, content or other matters," CBS said.