CBS has announced it will cancel The Late Show with Stephen Colbert in May 2026, ending its run after more than a decade. The network said the decision is “purely financial,” citing challenges in late-night TV—not Colbert’s performance or recent controversies. But the timing raised eyebrows: the news dropped just days after Colbert slammed CBS and Paramount for a $16 million settlement with President Trump, calling it a “big, fat bribe.” The president had sued over alleged editing of a 60 Minutes interview with Kamala Harris. CBS didn’t admit wrongdoing but agreed to pay legal fees, release unedited transcripts, and support Trump's future presidential library. Colbert didn’t hold back, mocking Paramount’s decision during his monologue and comparing it to one of their own box office flops: Transformers: Rise of the Beasts. California Sen. Adam Schiff, appearing on the show, questioned whether the cancellation might be political retaliation, saying the public “deserves to know.” Meanwhile, CBS claims Colbert is “irreplaceable” and that the Late Show brand will be retired with him.