Colbert’s Late Show faced annual losses of $40 million prior to CBS’s decision to cancel it.

In a world where late-night TV shows lose money faster than politicians lose debates, CBS has illuminated the financial struggles of “The Late Show.” Critics, meanwhile, have equipped their tinfoil hats, positing that Stephen Colbert’s cancellation could be a strategic masterstroke to silence his anti-Trump rhetoric.

According to Puck News’ Matt Belloni, “The Late Show” has been on a financial diet, shedding more than $40 million a year for CBS. With a budget ballooning over $100 million per season, you might ask why they haven’t just cut down on the gourmet snacks. Meanwhile, the network’s daytime and primetime fare are still cashing in, like a well-balanced checkbook on payday.

Buckle up, because Belloni’s report further suggests that “Late Show,” with its topical jests and celebrity chit-chats, has been flailing on Paramount+. When it comes to digital presence, it’s about as popular as a diet soda at a barbecue. “So from a business standpoint, the cancellation makes sense,” Belloni asserts, as if late-night TV were a simple economics class taught by a particularly stern professor.

Despite the buzz, insiders at CBS and Skydance Media insist that Colbert’s cancellation is “purely economic” – likely the same way you might call a soggy sandwich “an interesting culinary experience.” They point out that the decision to extend his show for a solid 10-month funeral march to May 2026 suggests that we’re not just watching a hatchet job unravel, but rather a meticulously planned exit strategy.

However, skeptics raise brow arches worthy of a late-night show host. Belloni mentions, “Typically, network heads seek salary cuts or personnel reductions when exorbitant costs arise.” But, alas, the salary of $15 million to $20 million per year for Colbert would take more than a mere haircut to salvage. It’s disheartening to think that expensive habits can’t just be trimmed like a coupon-clipping enthusiast approaching the cereal aisle.

As Belloni suggests, the possible political undertones surrounding the cancellation seem to cast a long shadow over the late-night landscape. Will Jimmy Kimmel at ABC and Jimmy Fallon and Seth Meyers at NBC be next on this financial chopping block, or do they plan to continue filling time slots with mere jokes about their coffers? CBS may have started a cascade, and soon we might see networks tossing out hosts like last year’s Halloween candy.

Meanwhile, President Trump celebrated the demise of “The Late Show,” issuing bold proclamations on Truth Social, declaring, “His talent was even less than his ratings.” One can only admire the artistry of the insult, a linguistic ballet where no one wins. So, let’s raise a glass to the ever-fleeting world of late-night television—where the punchlines may fade, but the financial headaches remain in full view!

“The Late Show” was losing $40 million per year for CBS, with a budget exceeding $100 million per season, per Puck’s Matt Belloni. (Spencer Platt/Getty Images)

In Timothy Leary’s wildest dreams about financial enlightenment, CBS reaffirmed that this is strictly a financial decision, citing economic hurdles in the late-night arena. They assured audiences their decision was not driven by content or any reactions to Paramount’s latest political circuses. Yet, Colbert, in an emotional farewell, shared a touching sentiment—while cleverly denouncing the dubious dealings between Paramount and Trump like a modern-day Shakespeare.

Amidst this turmoil, Skydance Media’s CEO, David Ellison, emerges, apparently wanting to run a less contentious ship. Looks like TV might be sailing into murky waters where both ratings and political biases try to coexist in a world that only begs for balance. Liberal outrage reigns supreme, as critics claim Colbert’s cancellation reeks of political maneuvering. It appears that late-night comedy, much like a bad haircut, is in for a serious realignment. As always, dear audience, stay tuned!

For the latest updates, tips, and trending insights about late-night programming, you’ll want to keep your subscriptions handy—because the drama of cancellation might be more riveting than the shows themselves.