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CBS Axes Colbert's Late Show, Gives Slot to Allen

5/6/2026

Summary

Colbert Show Ends

CBS announced Stephen Colbert’s The Late Show will end, with its final episode on May 21.
CBS said the cancellation is a financial decision and that it will lease the slot to Byron Allen’s Comics Unleashed, with Allen Media Group covering costs and selling ads.
David Letterman told The New York Times the move is meant to smooth Skydance Media’s $8 billion Paramount merger, labeling CBS leaders “lying weasels” and the decision “cowardice.”

Summary

Letterman Blames Merger

David Letterman blamed David Ellison, Skydance Media head and Paramount CEO after the 2025 merger, for ending “The Late Show.”
Letterman said the move protected “dad’s money” rather than financial strain.
David Letterman noted Allen Media Group will produce “Comics Unleashed” on a far lower budget, that the replacement’s panel-style format lacks a stand-up monologue, and that Byron Allen’s show will keep the 11:30 slot funny and provide resolution.

Summary

Colbert Show Axed

The cancellation of Stephen Colbert was announced days after he condemned Paramount’s $16 million settlement with President Donald Trump over a “60 Minutes” interview.
CBS said the cancellation was financial, despite the settlement’s link to a $20 billion dispute requiring Trump-administration approval for Paramount’s merger with Skydance Media.
The episode airs Thursday, May 21, 2026, ending an 11-year run for Colbert and a 33-year legacy that began with David Letterman, while late-night ad revenue falls.

Summary

Letterman Blames CBS

David Letterman’s printed interview in The New York Times frames the show’s cancellation as a betrayal of its fan base.
He argues late-night television is now a past “cash cow” eclipsed by streaming.
Letterman says CBS executives treated Stephen Colbert’s program as an “add-on perk” for the Skydance Media merger.
He calls CBS leaders “lying weasels” to sway public opinion before the final May 21 episode.

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Colbert Show Ends

CBS announced Stephen Colbert’s The Late Show will end, with its final episode on May 21.
CBS said the cancellation is a financial decision and that it will lease the slot to Byron Allen’s Comics Unleashed, with Allen Media Group covering costs and selling ads.
David Letterman told The New York Times the move is meant to smooth Skydance Media’s $8 billion Paramount merger, labeling CBS leaders “lying weasels” and the decision “cowardice.”

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