Back to today’s briefing

Story perspectives

CBS Axes Colbert's Late Show Amid $16 M Trump Settlement

4/30/2026

49 9 Full Breakdown

Summary

Colbert Show Cancelled

CBS cancelled “The Late Show With Stephen Colbert,” the late-night host, setting the final episode for May 21, 2026.
CBS said the move was driven by monetization losses on YouTube and streaming, with critics linking it to a $16 million settlement with U.S. President Donald Trump and the Paramount-Skydance merger.
Producer Paul Dinello urged Colbert to revive political comedy, a shift Colbert embraced after the 2016 national party conventions.

Summary

Colbert Interviews Obama

Stephen Colbert will interview Barack Obama at the Obama Presidential Center in Chicago, airing on CBS on Tuesday, May 5.
Stephen Colbert said he wants to return to comedy, launch a podcast post-show, and leave CBS without regret.
Stephen Colbert, who is co-writing the Lord of the Rings film *Shadow of the Past*, made his first major network appearance since his final episode on May 21 by interviewing Barack Obama.

History

Historical Context

Stephen Colbert’s satirical persona began with The Colbert Report’s October 17 2005 debut on Comedy Central, a spin-off of The Daily Show created by Colbert, Jon Stewart and Ben Karlin. The show’s “Colbert bump” raised Democratic campaign contributions by 40% after appearances, and its success cemented comedy as a political tool, a trend CBS now revisits as it cancels his late-night program.

1 of 3

Colbert Show Cancelled

CBS cancelled “The Late Show With Stephen Colbert,” the late-night host, setting the final episode for May 21, 2026.
CBS said the move was driven by monetization losses on YouTube and streaming, with critics linking it to a $16 million settlement with U.S. President Donald Trump and the Paramount-Skydance merger.
Producer Paul Dinello urged Colbert to revive political comedy, a shift Colbert embraced after the 2016 national party conventions.

1 / 3